Re: points and timing...
Want some advice? Don't beat your head against the wall looking for the "right" way to do it. Yes, there is a way to precisely set the points using a special timing tool or marks on the flywheel and armature plate. Use of the tool is spelled out in the service manual. I always used the timing tool when I was doing it every day in the shop, merely because it is so easy and quick. But the truth is that motor has a great and forgiving ignition system and will work just fine by merely gapping the points at .020" at their widest opening. If it doesn't, there is something else wrong.