I don't think the 123 is an admission of defeat at all it's just bringing things up to date and making them more reliable. I have never heard of a 123 distributor failing completely and leaving anyone stranded. If it ever happened it's a 10 minute job to swap out the 123 for the original points setup distributor, if you carry it as a spare. It's a lot easier and quicker than playing around with points and condensor at the roadside.
Fiat themselves did it when they eventually went to the dual coil and a distributor with points and no king lead. Followed by the 126 which eventually when to the fully electronic ignition made by Magneti Marelli with the sensor on the flywheel that has no timing adjustment at all. They just removed some of the potential points of failure to do improve reliability.
I can't remember the number of times when my 500 was running a bit rough and I have checked the obvious bits only to find the points have had a mind of their own and adjusted themselves for no apparent reason.
Fiat themselves did it when they eventually went to the dual coil and a distributor with points and no king lead. Followed by the 126 which eventually when to the fully electronic ignition made by Magneti Marelli with the sensor on the flywheel that has no timing adjustment at all. They just removed some of the potential points of failure to do improve reliability.
I can't remember the number of times when my 500 was running a bit rough and I have checked the obvious bits only to find the points have had a mind of their own and adjusted themselves for no apparent reason.