Since putting in my '85 5.0 HO (non-roller) back in may, I've been using a rebuilt Duraspark distributor. I'm wanting to step up to an HEI. If so, would this HEI bypass the module located on the driver's side?
Yes, the HEI has a built in module. HEI is far from a "step up" from Duraspark though, IMO. You can get rid of the DS module box by replacing it with an MSD box. The DS is a tough as nails setup. That is why MSD distributors are a carbon copy of DS.