What is this ?

Owning a 64 B body, I agree with all that has been posted. If you choose to stay with the stock ignition, I would use the above 2 post ballast and wire it according to the posted diagram. Lose all the other junk. My main input is to clean up any rust you see. Especially the grounds. Other wise you will have nothing but trouble. Aftermarket ignition systems like MSD eliminate the ballast completely. It gets rid of a typical failure point.