Bill,
The part which has me confused is that the voltage reducer drops the volts to "protect" the points, then there is the condensor which also "protects" the points. it's like there is a guard at the door and a body guard in the room.
Is it that, if the volts stayed a constant 12+, the volts coming from the coil would be increased to such an extent, that the condensor would not be able to handle the excess and the spill over would be to much for the points to handle over an extended period. ?