Im sure it would handle the heat transfer.Yeah IDK, just heard of guy's using it on street rods... But IDK
I dont know if it would continue to do that in the highly corrosive hostile environment that exists under your distributor cap.
Maybe it doo and maybe it dont.
But I do know that automotive heat sink does work.
You should always be very leery about anything any "hot rod" guy has to say about anything.
Those guys only drive those cars when its not going to rain and they put maybe a thousand miles a year on them.
They are not driving those car show trophys through the mud and snow and rain and salt.
And those guys can be the worst crying whining little babies you will ever meet.
So, it might work.
But, for 5 bucks to buy the right compound?
There is no reason for you to be the guy who finds out.
Let somebody else be that guinee pig.