I just pulled a distributor out of my 427 tall deck and compared it to a points-style distributor from a "normal" big block/small block.
The tall-deck distributor is the SAME length from the hold-down flange to the bottom of the distributor gear as the normal passenger-car distributor, although the bowl is taller to make room for the governor stuff.
You need a longer distributor ONLY if you use a car manifold with the side spacers. The original GM tall-deck manifold and most aftermarket performance tall-deck manifolds use a lower distributor pad so that the distributor is the same length even with the taller deck height. A regular manifold with the extra height of the side spacers will mean you need either a longer distributor, or you can modify a normal distributor housing and add a slip-collar to achieve a longer distributor. The slip-collar is about $13 from Moroso, I think. You'll need a lathe to carve the housing, though.
The original tall-deck manifold is not a terrible piece, the runner sizes and shape seem to be OK. They are set up for a square-bore Holley, and perhaps you would need to open up the four holes for the throttle plates. The cast-iron tall deck manifold is very heavy, though!