The problem is, we don't know if it's stock. The fact that it already had a dual point in it opens up the possibility that it may have had other updates. We really need a better idea of what he's running before we can make any recommendations. Ron is right though, about single points being more than enough for a flathead with it's relatively low revs. The fact that he already has a dual point tells me that getting it running right with that distributor might be the cheapest way to go, unless it is worn out.
As to Mike's comment about the non-availability of points, I don't think that's much of a problem. I have found Echlin points from NAPA that cross to Mallory points in two instances, one of them for the flathead Ford Mallory's. When I get the time, I'm going to try to figure out if there are others. Original Mallory points are usually available on eBay if you don't mind paying $25 a set.