^I'd be upgrading the ignition coil to a transformer type coil like that anyway as the oil filled coils get weak from a few decades of doing it's funky thing and getting baked and rattled around. You'll get a much cleaner fuel burn and it will maintain a good strong spark when you push the engine hard.

*don't use hot glue to anchor a wire in an engine bay james - under hood temps will soften it, it more than likely isn't solvent resistant (plus it looks like a nasty ghetto fix). Crimp up a new connection and wire and match the connection type (eyelet or male spade terminal). It will eliminate the problem coming back to haunt you when you need it least.