Is the wire being referred to called the Ignition Pick up lead ?
Yes it is and they always go wrong so it's a good idea to replace it before it leaves you stranded somewhere. The main problem is that the insulation of the pick-up wires inside the distributor hardens with heat and eventually breaks due to being bent back and forth by the centrifugal advance mechanism.
But the ignition modules rarely go wrong and I wouldn't change it as "preventative maintenance". If you do, then you should also replace the coil as it's more likely to go wrong. In fact I'm not sure if the ignition module is available on its own or if you'll have to buy the complete unit of module, heatsink and coil.
Ricambio would probably be your best bet for getting one of these.