The standard 80 leads are very good factory with the inner boots to keep them dry, but it is worth using a sealant that stays soft like permatex on the face of the lead where it has the big round section that goes down inside the head. Water in here can be hard to clear, and it wont evaporate for up to half an hour driving with a miss.
We have also found the 12mm [1/2'] magneto type full shielded leads for drag cars work well for water protection, but cost $ and upset the radio also.
And not such a problem for the 4.5 cruiser, but exposed porcelain on the spark plugs can also create misfires, not so much in clean water, but if its dirty muddy water.
The dizzy has a breather hole in the bottom of the alloy housing, we normally drill and tap them and fit a hose to the air cleaner, in a low vacuum area, because with the cap sealing, if you dont have the air changing in the cap, it will condensate with the change in temp as it gets wet, causing the same problem as the water getting in.
I run a plastic shopping bag over the dizzy as a back up, and duct tape it around the housing shaft, and wrap it around the leads and tape it as well, cheap, easy to maintain, and lasts plenty of time to stay on there, you can also use a rubber glove, cable tie the shaft end and run the leads out through the fingers.
We have found a little air compressor off air horns works best, if wanting to go to that much trouble, blowing air in when turned on, to pressurize the dizzy, if you have it sealed well.
Also, if you have waterproofed the air intake, as an extra safety, I run 2 laps of duct tape around the air cleaner lid, then put the clamps back on, this way, with vacuum in the air cleaner space, there is no chance of water being sucked in there either.
The door seals will work well when moving, but stop, and water will start pouring in, also, if the water is deep, and/or running fast, letting more air out, helps the car stay on the bottom, and if you really unsure, open the doors to the first click, and let the water in, to help the car stay on the bottom.
We normally only have to do that if the water is over the windscreen wipers in depth, to stop the car floating.
Also make sure you run headlights that are sealed, and if you have a winch, make sure you spool it out, and back in within afew hours of the deep water, to generate some heat, and dry the internals of the winch and motor.