So if you really want to upgrade the ignistion system of your 1966 Bronco you will have severial choices for better newer model distributors.
1. If you wanted you can use a Pertronix Ignitor in your current distributor, this helps give a better spark but you still don't have any centrical advance system.
2. You can get a 1968 to 1974 Ford 170, 200, or 250 Six point type distributor this is the better duel advance type (Centrical & Vacuum Advance) gives you good Performace and economy. You could also add a Pertonix Ignitor to it or an MSD box as well as severial other combos.
3. Better yet is a DuraSpark II ignistion out of a 1976 to 1983 Ford 200 or 250 Six these were Fords best design for the small six'es. These are already electronic so no more points to deal with for a daily driver is a great chooice. To me this can be the best bang for the buck when using the Ford factory parts using everthing from your local junkyard. It's almost all plug and play with using a couple wires needing to be redone to power the ignistion I have done numerous amounts of these DSII swaps in about 1 hour install time your time results will vary some for the first swap. This system is very good for any stock or mild engine combo. Others that want even more or have a larger budget can add a few aftermarket parts for even better performance too. ie MSD 6AL ignistion box, hotter coil, Performance Spark plug Wire set Etc.
4. A DUI or a HEI clone first one is a bit pricey second is low cost both of these are going to need some extra work on getting the timing cruve adjusted for best performance, so know if you need get that work done it's going to add some more to the over all costs.
X2 sounds like the Carb is were you need to look at for the cause of this engine running problem. I would carfully first check the carb float for being to heavy i.e. The Brass floats can crack and then slowly.fill up with fuel causeing them to sink and cause flooding they can be fixed by soldering up the crack after you remove all the fuel and dry them out good. The nitro type floats can also absorb fuel and become heavy again cause flooding check for a soft spot and its weight I usally just replace them during the first rebuild of a older carb. Then also it's common for some to have the float level set slightly higher then the stock spec this will cause flooding too. Next after that I would suspect a vacuum leak around the throttle shaft, many have found this in working on these well used old Carb's. The shaft to carb body will have excessive clearance that is located on the Carbs throttle linkage side from the years of pulling of the throttle arm linkage to pull open the Carb's throttle blade and then the return spring pressure to pull it back closed again this takes its toll by wearing out this side of the carb base hole. Good news is a kit is available to ream out the carb base and install a new bushing to repair the carb to as new condistion. The other good thing on these Autolite 1100 Carb's is they can be easily modded (the Drop A Load Mod) for use with all the newer distributors listed above. Best of luck