There should be practically no continuity over the points when open, disconnect small wire from distributor to coil for this test. Realize that the condenser will still be connected across the points, may disconnect it as part of your troubleshooting and testing that the points operate as expected..
Do you have another coil to try? Another condenser?
It's sounding like spark or timing issue to me. Fuel and compression and valve timing are less likely to get out of order quickly, and more obvious, also easier to check and test.
How good is your battery, and are your cable connections good and clean? Does your coil still get close to full voltage while cranking?
