To answer the three unconnected wires:
Solid Gray w/ Female Packard Terminal - To Oil Pressure Sender
Brown w/ Eyelet - To Positive Terminal On Coil
Black w/ Yellow Tracer w/ Eyelet - To Negative Terminal On Coil
I do see issues with the wiring on the ballast resistor. Where did this harness come from? Typically, a four terminal ballast resistor has only two double terminal connectors. One with a extension on the connector that is keyed to fit into a C cutout on the side of the ballast resistor on the right side of your picture.
No, you do not need a condenser when converting to an electronic ignition setup.
Also, noticed there is no insulation on the wiper gear box cover plate two terminals.
Jim