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Rusty, aren't you running an electronic ignition? :p

The biggest threat to reliability isn't anything the factory did - it's previous owners. So first fix any wiring that involves lamp cord, wire nuts, Scotchlock connectors, or similar abominations.

Next priority is to make sure you don't become "that" previous owner. If your own wiring skills aren't that great, stick with easy plug and play options. Pertonix Ignitor 1 instead of points, drop in solid state conversions for points type voltage regulators and instrument panel voltage limiters. And you can wait until parts break to make this fix. An ammeter bypass isn't too hard either, but I'm not sure it's mandatory either. But you will want a volt meter if you do the bypass. Don't stay in the dark about your charging system.

Some things that are nice to have but may take more skill level:

For a headlight upgrade, the Toyota kit if you're on a budget, a personal recommendation from @slantsixdan if you aren't.

A third brake light isn't a bad idea.

If you can hear it over your exhaust, a stereo upgrade is great for a driver. There's even a few you can disguise as the stock radio.

More gauges if you don't already have them in the stock dash.

My project has a lot more, of course, with an EFI system, trunk mounted battery, and electric fans, but that's not for everyone.

But the big one is to avoid hack jobs.