With the stock points setup, you should just be running the stock resistor wire to the "+" side of the coil with no additional ballast.
With the PerTronix, you can run full 12 volts to the "+" side of the coil, so you can run a new wire from an "IGN" source at your fusebox to the coil to bypass the stock resistor wire.
Just as a sidenote, I've had bad luck with the PerTronix systems, and I remove them out of all the cars I tune and set up. The stock points system works very well with a good set of points in it (use NAPA/Echlin part number CS786 with an RR175 capacitor). This will run through 7000 rpm with no points bounce (I have a Sun distributor machine that I run all my distributors on, and I have verified this). If you want a nice upgrade to the stock points system, install an MSD6A with the points and use a good coil. This is the only ignition system upgrade that I actually see a performance improvement on the dyno runs we've done. The MSD setup will take a full 12 volts.
This may or may not fix your cutout problem, as many Pontiac high-rpm cutout issues are related to fuel supply issues.