George Des
It appears you have the lug discussion settled, but you may have another problem that will definitely prevent you car from running right. Most of the 230's I have seen came with an 046 distributor. The 051 distributor came along later. The 046 distributor is a vacuum advance distributor and the 051 is a vacuum retard distributor. They will not interchanage without changing the throttle body as well. If you put an 051 distributor on an engine that had an 046 distributor without changing the throttle body, the ignition timing will be retarded instead of advancing as the rpm's increase.
On the subject of electronic ignitions, I put a Crane unit in my 230 SL and helped install a Petronix unit on a friends car. Both worked well after the installation. The Petronix was a breeze to install. The Crane unit was much harder to install because they sent the wrong mounting hardware. Even with the right hardware, I had to make more modifications to the distributor in order to make it work. As far as performance, I cannot tell the difference in the two units.
Good luck on your project.
Iverson