From my experiences as a GM dealership partsman. The Optispark ignition system is not one of my favorites.
Being located between the engine block and the water pump makes it labor intensive for even a “simple” distributor cap and rotor replacement, off comes the water pump. The only serviceable parts inside are the cap and rotor, anything else is a distributor replacement. I haven’t kept up on prices since I retired five years ago but the OEM Optispark complete distributor in the mid to late 2000’s was in the area of eight hundred dollars if memory is correct but by now there has to be aftermarket new and rebuilt units out there.
Also, the engine block, while it is a 350 it is not the “usual” block. The distributor is driven off the front of the camshaft via a coupler, It’s been a long time but I think there were two designs, an early and late drive, both included a ball bearing and by now both have probably been discontinued by GM. A few years before I left I had to find one for a job in the shop, it took a bit of work to track one down. Also, if for some reason that engine block gets damaged beyond repair (freeze up, throw a rod through it) be prepared to do some hunting as while GM does offer some “crate motors” for service replacements in the regular Powertrain line and in the General Motors Performance Parts they do not offer one of those and you cannot modify or retrofit the engine with the distributor in the back ( normal location from the original SBC’s) to work with the front mounted distributor.
Personally I could never figure out why GM did not use the distributor less ignition from the 3800 T-Type and Grand National and modify it for the small block, they had that setup back in 1984 and it predated the Optispark by a number of years.
I don’t want to sound off as being negative but just wanted to bring these things up. Those Optispark engines could and would take a lot of thrashing, one of my customers ran one in SCCA racing for quite awhile and blew it up a couple of times' he finally replaced it with an LS series engine but remember that is an off road car only.