What are the symptoms? You'd likely be experiencing less power, less ability to rev up to the higher rpm ranges, rougher running, especially at idle. Maybe it even acts up more when it gets hot. As opposed to running better when it's cold.
Things like that.
With your electronic igntion though, you could get any or all of those same symptoms from a worn distributor, bad or mis-adjusted magnetic pickup or reluctor, cracked cap, bad plug wires or a bad connection somewhere. Next it could be a bad module. And yes, they usually just "fail" all at once, but that's not a gurantee. Just a most-common scenario.
Votage at the coil can read 12 volts but should be between 6 and 9 when running. I think someone will correct me here, but I think it depends on how you're using your meter as to what reading you'll get. Viperwolf is up on this type of stuff so might answer that.
Paul