In my opinion, it's actually less reliable, in terms of getting you home every time. With points, every time you change them, you can throw the old ones in a baggie in the glovebox for spares. If you should manage to have a failure (very rare, but it does happen), it only takes a few minutes to put back the old points & condenser and be on your way. But usually they degrade gracefully and you know it's time for a tune-up next weekend.
But when the electronic module malfunctions, you're pretty much stuck. You can save the parts and undo the conversion but that's usually a lot more hassle. (BTDT)
OTOH, going electronic can definitely extend intervals between tune-ups. Better output means it is better at firing old, worn out or fouled plugs, so you can run the same plugs longer plus obviously no points & condenser to change.
I've tried Crane, Allison, MSD and Pertronix. Not real happy with any of them, for various reasons. After I installed the Pertronix (most recently), I discovered that it may fail to fire at all if the battery is weak, even if the starter will still turn the engine! I went through a period of several weeks where the engine would only start when I let off the starter button. Of course the bad battery was the real problem, but points would have given a spark down to where the starter wouldn't turn any more.
However, that was an Ignitor I. The II looks to be an improvement, with adaptive dwell (and no concerns over burning it up if you leave the key on). Might be worth a try.
Note that most of them specify they cannot be used with solid (copper) core plug wires. But I've had problems with carbon core wires going intermittent when used with the early Lucas caps, with the insulation piercing screws. If that's what you have, you might want to consider using a later style cap with the snap-in wires (and carbon wires of course).