Not sure if I would bother with an elctronic ignition , there is not a lot wrong with a set of points for road use. As for a regulator I used to use a lucas one which was cheap and cheerful but I couldn't tell you which one it was.
EDIT http://www.sweller.co.uk/mz/mods/mod_12vreg.html ( and look at the other info on the site)
The MZ shop has this one which is plug and play
http://www.themzshop.co.uk/product/12v- ... torcycles/Any 12v flasher relay should work, but if you are changing to LEDs you might find that these are rated at 10W rather than the 21W that old school bulbs are, and require a different relay. TBH I never had problems with the power output of the ETZ electrical system so would not have thought of resorting to LEDs, 180W should be enough to power everything.
Check the state of your wiring, corrosion on connectors eats watts
Also check your battery. A lot of electrical problems come from a battery that is not holding charge properly. Seems OK until you switch everything on then the bike dies
ES250 Doppelport, ES250, ES250/1, ES250/2,ETS 250, ES150, ETS150, BK350, IWL Pitty, SR56 Wiesel, SR59 Berlin, Troll............ and thats just the German two strokes!
http://thecomeconcollection.blogspot.com/