Look into the Delco EST for your 140HP, I'm running one on my 72' 140 and it works well. The kit is around $200, but you are getting a complete new ignition; distributor, cap, rotor, coil, ignition wires. (This is what Mercruiser and Volvo run in their 3.0L engines now.)
You will need to bypass the points reisistance wire so the EST gets a full 12V and then re-wire the shift interrupt switch to 12V (instead of ground).
The only thing I don't like about the EST is the timing curve, it's different than the old 140HP distributors,,, more initial timing and less total timing for the EST. That said, it's working fine for me.