i have had the megajolt for yrs now, before anything else was available. it uses a ford edis igniter, ford coil on plug, and a machined 36 tooth trigger wheel with 1 tooth missing as the trigger. there is some redundancy, for example, if the megajolt controller fails for some reason, the edis continues to function giving a limp home mode using a flat 10deg advance. you can use 2 switchable programs too. the static timing can be changed via program from -5 deg to +5deg for a bit more adjustability. i probably would have used the ignitech if it was available when i switched to the megajolt only because of ease of installation. the megajolt has a couple more options that i like so im glad i put out the extra work.
megajolt has all of this stuff too. plus the limp mode, and can be modified to use to use tbi instead of map input if you want to add injection. i would agree anything is better than stock. this was the only thing on the bike that couldnt be adjusted before.
dont know what the ignitech costs, but when i bought the megajolt some years ago, it was available in a kit form for 84 bucks. i see now theyre only available pre made. they are made in lynnwood, wa. and easy to get a hold of for support. they also make other race ignition parts.