If polarity is reversed on the Points...I t-h-i-n-k that can cause rapid erosion...
Are you suggesting that the coil is wired backwards? Wire from the ignition switch should be (+), and the wire to the distributor should be (-). Will there be any spark at all if the coil wires are reversed? (which is real easy to do with the 216 upside down coil arrangement.) I am asking this because I do not know.
Carl