The single wire coming out of the distributor goes to the coil NEGATIVE terminal. The tach feed will also go there.
Breaker points will over heat and eventually burn out if they are subjected to full battery voltage for very long. This wasn't a concern with your Prestolite setup.
You first need to determine which of the wires hooked to your Presto POSITIVE terminal is the switched feed from your key. It will be energized in key ON and START positions. You'll need to get yourself a cheap, illuminating test probe with gator ground clip if you don't already have one. Use the probe to test the loose wire terminations until you isolate the switched feed wire. Label it so you don't forget.
Next thing you should add to your tool arsenal if you don't already have one, is a handheld multi-meter capable of measuring resistance in Ohms. Set it to the lowest end of the scale. Then probe across the coil POS and NEG terminals. You should get a reading of 1.x Ohms primary resistance. Now, subtract that reading from 3.3. The remainder will be the value of ceramic ballast resistor that you will need to purchase from an auto parts store. For instance, let's say your coil measures 1.5 ohms across the terminals. That would leave you needing a 1.8 ohm ballast resistor to make up the difference. The Primary resistance of the coil, plus the ballast resistor to make the proper total resistance, will reduce the voltage to the coil and the points enough to protect them from overheating. But we shouldn't assume your coil primary resistance is what it needs to be. Measuring is the way.
Once you've determined your coil primary resistance and purchased a ceramic ballast resistor with the right value to get you slightly above 3 ohms total resistance, you'll need to mount the resistor to the firewall where it can be reached by the wire that you previously identified as the switched feed. Trace that wire back to the bulkhead connector at the firewall. Then run a few inches of the wire over to the ballast resistor. Cut the wire and affix a termination that will allow you to connect it to the nearest side of the ballast resistor. Affix the same type of termination to the other loose end of the wire where you clipped it in two. Attach that end to the other side of the ballast resistor. What you've done is interrupt the switched feed wire with the ballast resistor. In other words, the switched feed voltage should now pass through the ballast resistor on it's way to the coil.
Scouts older than yours that came originally equipped with points distributors, used a special resistor wire of a specific length to provide not only the switched feed to the coil, but also serve as the ballast resistor. Your Scout doesn't have this resistor wire, just a normal wire. That's why you need the ceramic ballast resistor instead, to complete your points distributor retrofit.
Now, you may find once you've done all this, that your engine will occasionally have some difficulty lighting off during that initial cold start of the day, especially during colder times of the year. To combat this, you'll want to run a new length of 14 gauge wire from the starter solenoid 'R' terminal, which you can either run up to the coil side of the ballast resistor, or all the way to the coil POS terminal. Either way, the choice is yours. This wire will be a momentary ballast resistor bypass feed. What it will do is allow full battery voltage to reach your coil only while you are starter cranking. Once the engine lights off and you release the key from START to ON, the ballast resistor feed will take over, once again providing a reduced current to your coil while the engine is running. So that will mean you have two switched power feeds to the coil. One for starter cranking and one for engine running.