Disc Brake Conversion Failing

I did the drum to disc swap last summer. I haven’t gotten around to the proportioning valve. I bought an adjustable one but I’m hesitant to cut my line and make another potential place for a leak.
Here’s my question… Is a factory proportioning valve a direct replacement for the drum drum distribution block ?

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Not that I know of, and you may not need to install the adjustable valve. With the extra meat under the back of your car that I can see in your avatar, I'd go do some aggressive stops on an EMPTY, straight, flat, rain slicked road, and see if you can even get the rears to lock. If not, you don't need it.