Hi Tom,
Welcome! Which region SCCA do you participate in?
For your question- do you already have a stable source of vacuum to run your distributor advance? What's your intake manifold arrangement like- separate carbs on either side of the engine?
We often talk about MAP pressure stability at idle for lumpy cams, but in a race car you're rarely idling, agree.
If you have a convenient way of fitting a throttle position sensor to your linkage TPS might be the way to go. If you have a readily available take-off point for vacuum, then MAP might be an option as well.
As far as voltage- the pure physics indicate that you will loose spark energy with reduced voltage. The MJLJ's internal circuit works at 5V, so it will work with the battery voltage not far above that.
Agree with Martin that the EDIS is a bit of an unknown- but... if Ford designed it for robustness I think they would make it run as low as possible to help those with bad alternators / dying battery conditions limp to their destination (one would hope.

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If I recall correctly there are systems available to boost and regulate battery voltage specifically for your situation. You might want to look into that if only to maintain strong spark.
Regards,