If you're getting 4 volts at the distributor with the points closed, the points are badly burned or the contacts are dirty. Either way, you'll get little or no spark. You should be getting either 12 volts at the side terminal of the distributor with the points open, or virtually zero with them closed.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!