interesting. same page, but curious result.
I have a '57 parts motor (5 1/2) that I was able to easily check, and the taper is down, seemingly contrary to the parts blow ups AITn notes ('57 diagram too -- very odd). Tried to reverse it on my parts motor just for grins, and the assembly was......wobbly.
(so....agree with Racerone and Chinewalker that the tapered end of the ring should face down -- and think the assembly would be wobbly if reversed, as Oven says.)
Oven -- sure the screws are causing the binding? Backing them out a bit frees it up?
The link and stop assembly underneath the plate could bind, I guess, if the screws hold it up in place were not tight. Also, the plug wires might bind if not clamped up under there.
edit. If assembling and testing without the coils in place, might be just sinking the coil screws too deeply (binding).