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Phil;
Once properly refurbed and lubed, you can expect the fitted Distributor to give good service, and (again) for a long time...but it certainly can't hurt to go through the back-up while the process is fresh in your mind. Some guys say they keep a back-up Distrib in the on-board spares, but knowing that I can sort just about anything which might happen (not to brag!) but I'd never think of it!
As far as installing it...it is a bit different from B16 to B18...not the least of which is the direction of rotation, but I have documented the process of Static Timing for a B18 which you can surely adapt for use with a B16 if that is your situation (including swapping the Distr): https://www.sw-em.com/Volvo%20Ignition%20from%20Scratch.htm#Static%20Timing
Cheers
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