Alright, as evidence of my continuing efforts to help others on this forum, I spent about 5 minutes (maybe less) this morning cleaning my distributor and took a before and after picture. It cleans up pretty easy. The hardest part, like doing anything on these cars, is just bending over the engine bay.
I did this with a dremel tool and one of those little round cottony polishing wheels. Now mind you, I didn't put a lot of effort in to this job.
Here are the results: