Re: point condensors coming loose?
I'd venture that the bushing at the center of the mag plate is worn so badly that it's causing points gap to be erratic, eventually going far out of adjustment and causing poor running. This will continue to get worse until you won't be able to keep the motor running.
You can check this out by watching the mag plate at idle, if it's wobbling around a lot that's a sure sign. When the wear gets real bad it'll make a lot of noise at idle and if you <carefully> grab hold of the plate and hold it steady, the noise will stop, change, or diminish.
The only cure for that problem is replacing the mag plate assy. I've seen lots of these on eBay so check that out if you find it's a problem.
I find it hard to believe the points or whatever keep coming loose. The only time I've had that happen is when I was foolish enough to either not use the proper hardware or forgot to tighten something down! A lesson not soon forgotten!!!
You'd do well to take the O.P.'s advice and pull the flywheel yourself to check it out. Or find a more experienced mechanic.
Note that the hold-down screws for the condensers are supposed to have an external-star type of locking washer to keep the screws from working free.
The points hold-down screws are supposed to have a wavy-washer under the screw head, this allows the assy to be plenty tight but still lets you adjust the points with the screw tight as can be.
With the flywheel off, put some side thrust on the mag plate and watch the points. If the points gaps are changing while you're doing this, there's far too much slop in the mag plate bearing and you should replace the plate.
HTH & let us know what you find.........ed