I can't add anything, but will try and sum up what has been said. Earlier cars (like the 39) had a longer nose on the cam, a three bolt cover and a helmet distributor. Only the helmets are three bolt, crabs are two only. Later cars (46) had a newer, more compact design, probably because of fan clearance issues, the changes were: A shorter nose on the cam, a very compact new distributor (crab type) in which part of it extends into the space gained by shortening the cam, and a two bolt cover, which is dimensionally the same as far as the flat face goes, but it has two holes instead of three.
In your car, someone decided to 39-ify the 46 engine, and use the helmet dist. to do this they first fitted a three bolt cover, and then to compensate for the short cam nose, used a button to lengthen the cam to the same length of a long nose (39) cam.
If you want to convert the motor back to a crab type distributor, as said, the easiest way would be to refit a two bolt cover, discard the button and bolt up the crab distributor.
The next easiest way would be to buy a three bolt to two bolt adaptor from speedway and use that to mount your distributor, retaining the cam button. The adaptors are quite neat and do incorporate a vac port. I have used a couple before now.
That's it, all has been said above, but I thought it worth trying to spell it out in one place.