Re: Getting no fire
Fish, Those magnetos are pretty tough. You should be able to get it to work fairly easily.
Have you gapped both sets of points to .020"? The wire between them must not short to any metal. Likewise the condenser wire must not short.
Remove the dist cap and pull out the coil. Check it for cracks. If it is cracked, you need to replace it. Make sure one coil primary wire is grounded by the screw that holds the clips that hold the coil in place. The other primary wire attaches to the brass screw that goes thru the dist body. Make sure the brass screw is not shorting to the dist body.
Remove the timing belt and the killer wire (small black wire on the distributor connection) and spin the dist pulley. You should get a great spark at the coil's brass pin. If you do, check the carbon electrode in the dist cap, make sure the spring that contacts the coil is intact, and reinstall the dist cap and check for spark at the plug leads. If no spark, you have a bad cap (unusual), bad wires or a bad rotor.