in an s13 you kinda need the distributor for 2 reasons.
1. Obvious one is it distributes the spark,2. The Optical sensor for ignition timing is part of the dizzy. EVERYTHING is going to need some kind of sensor to get proper spark timing.
I run megasquirt all told i think i spent ~$550 for a wideband and all the megasquirt stuff. It's a good way to go and the new firmware is the bomb.
check this out for some 240 megasquirt info.
zerothread/279228