The ballast resistor is there to prevent the coil from burning out when the engine is off but the ignition is on and the points are closed, if I remember correctly. This allows better spark at high speeds. FastJeff says you can substitute a true 12V coil that doesn't need a resistor.
The ballast resistor is of shockingly low quality. Perhaps the cheapest fix might be to use an industrial resistor of a few ohms (FastJeff would know how much) and then solder all the connections in the ignition primary circuit, from the battery to the ignition switch and down to the resistor and coil. Of course, I mean solder the lugs on, not solder directly to the threaded studs on the coil! The original Marinette wire is untinned, so wire ends need to be scraped and tinned before putting on the lugs.
I used a 50 watt resistor from Mouser 284-HS50-4.0F (http://www.mouser.com/Search/ProductDetail.aspx?qs=oJqWk0A1%252bW2gMhIbQgUY5Q%3d%3d) or something similar, mounted it on a piece of aluminum on the firewall. These are something like $5.
I don't know if it is needed, but I always run a ground wire from the point plate back to the block/battery return to ensure a good return connection and not trust oiled metal surfaces.
I did this to a boat (not a Marinette) once and it became reliable. I never found out which connection was marginal.
1975 32' Flybridge Sedan, twin Perkins 6-354 diesels, 1:1.53 velvetdrives, 16 X 19 props. Merritt Island, Florida