1) You won't get much oil flow up to the rockers by turning it over. The oil distributor valve will not send any up there until you have full pressure. If you are worried, try the drill routine again.
2) Turn the motor over until the points are open. Put a spark plug wire in the coil tower, attach to a spare spark plug and lay it on the valve cover. Now , with a spare jumper, apply a ground to the coil wire that goes to the points. Do this momentarily several times. You should then see the spark.
The next step is to see the spark while turning the motor over. After that, re-install the coil wire in the tower and look for a spark at one of the spark plug wires with the spare plug.
