It's not the color of the box that's not period correct, it's the box itself.
That being said, an electronic ignition will require less maintenance.
I'm not saying it will be more reliable (always have a spare ECU in the glove box or the trunk).
You could use a points distributor converted to electronic using a Pertronix module (in that case, the advice about carying a spare still applies).
You could use a points distributor, it will require more frequent tune-ups, but it works.
You could use a modern MSD-like box (hidden away from view under the dash), and hide most of the wiring so that only the distributor will give it away.
You could use a self-contained ignition system inside the distributor (DUI, MSD Digital E-curve). It will scream "aftermarket" everytime you lift the hood though.
Points are easy to set once you know how, it's not rocket science. They usually give plenty of warning when they go wrong (unlike the electronic ECUs which function perfectly until they're dead, usually at night, under a heady downpour, on the highway).
On the other hand, electronic ignition pickups require no adjustment. They don't wear like points do. They give more power, slightly better mpg, and advanced models give multiple sparks at lower RPM, include a rev limiter, etc..
Lots of options, depends on what you want the car to look like.
If I wanted the car to look OEM (if the car is a stock or near-stock restoration), I'd go points or Pertronix, or hide the orange box under the battery tray (it needs to be vented, so it should stay in the engine bay).
Here's what the OEM ECU bracket looks like :
http://www.yearone.com/serverfiles/fbsh ... =112AF4894