Bill, So how does the condenser prevent the arcing. Does it absorb the excess voltage? If so what happens to the excess. And by current do you mean amps?
If you had an oscilloscope attached to the negative side of the coil (or the wire lead on the condenser which is electrically the same place) you would see a picture that looks something like the attachment below. It shows one ignition cycle (one spark plug fires) with voltage and amps at the - terminal of the coil. Voltages would be less on a 6 volt system, but that spike when the points first open would probably still be in excess of 200 volts.
The equivalent of the condenser in your home plumbing would be an anti-hammer valve.
'57 GMC 102, Original 347 V8, HydraMatic, 3.08 rear gear, added A/C, disk front brakes, HEI, AFB carb, '98 Honda Black Currant paint. T-boned and totaled 10/12 '52 GMC 152 Stake Bed, Original 228, SM420, added A/C, HEI, disk front brakes, '67 Chev 3.55 rear gear. Gets used as a real truck.
