EDIS stands for Electronic DIStributor - the bit that drives the coil. Yours is internal to the ECU, so if you go down the Megasquirt route you'll need to get one and wire this in yourself.
Going down the Megasquirt route is a good idea if you are going to do a lot of engine mods later on, but be warned that it isn't a 'just turn the key and drive away' solution. You are going to have to spend time tweaking all the settings just to get the engine started and running right.
what about the plug and play options that are loaded with a base map? would they not be enough to get it started?
Possibly - but I just wanted to point out that you just cannot stick it in and forget about it. Tuning a Megasquirt system takes time and knowledge.