Innova 5568 electronic timing light does everything you need. Under $100 at amazon and worth it:http://www.amazon.com/s/?ie=UTF8&ke...aps&hvadid=3527179313&ref=pd_sl_9b35qvabua_ee
You're right about the MSD issue with electronic systems. I assumed that the OP was using it for an older system since he wants dwell (points?). My Innova has a dwell reading on it that works perfectly for points setups.