The ballast resistor needs to be swapped for one with less resistance. Try a resistor for a 1955-61 General Motors vehicle- - -no matter which one, they're all the same. Also use a Delco-Remy 12 volt coil for the same vintage vehicles. No, I'm not interested in what you have already, new or not- - - -it's wrong. You're losing too much voltage across the resistor which leaves not enough to operate the coil. DO NOT leave the ignition switch on for more than 2-3 minutes with the points closed- - - -you'll fry the points if you haven't already. If there's more than .25 volts at the coil (-) terminal with the points closed, they're burned- - - -clean or replace them.
Jerry