yes, the duraspark distributor will accept both cap styles, and yes, the smaller, tall-height cap with female terminals will definitely contribute to a more period-correct points-type look once it has been fogged black.
the major difference between DS1 and DS2 is in the control modul rather than in the mechanical distributor. The cap change in 1977 was generally regarded a distinguishing mark, but after 30 years of parts refurbishing, mix and match, it is a draw of luck at best to determine a whole system just by looking at the cap.
It is common knowledge that the breakerless ignition in Ford vehicles first saw use in 1974; yet the Duraspark is listed from 1975 on. I know there is a missing link; a regular breaker-points housing and breaker-points cap, mated to a magnetic pickup and reluctor system; a predecessor of the Duraspark. Having missed a chance to buy one in the past, I have yet to find another one for my collection of rare ford parts which cannot be found in the books (like the C8 head with the factory cast-in port divider)