Yep, but you have to move the white/black wire on the cutoff switch to the same terminal that connects the battery to chassis ground, else the the coil circuit will be open when the switch is 'on' and you'll get no spark. I wired my BJ8 with Pertronix this way, and it preserves the 'anti-theft' aspect of the cutoff switch; even if you hotwire the ignition--no problem on a Healey--and try to push-start the car it won't run if the cutoff switch is 'Off.'
The Pertronix people are good, but I don't think they know you have a dandy ground lead already available in Big Healeys with the coil ground on the cutoff switch (which is wired in parallel with the points--hence the spark kill). The principle is the same in piston aircraft with magnetos--since mags are always hot, the only way to kill spark is to ground the primary coil (with a wire called a 'P' lead).