ol_red,
Welcome to the Stovebolt. I think the very least I would do would be to gap the points, pull the plugs and gap and clean them. With the key ON, a meter on the points side of the coil (-) should alternate between approximately 6 volts and 0 volts as the engine is cranked over and the points open and close.
This quick test shows that they are at least actually doing what they are suppose to do, and that the condenser hasn't failed.
If moisture is a issue, spraying the cap and distributor innards with WD-40 will displace the water and help dry things out.
Nasty fuel and crud in the carburetor might be a concern too.
With the key ON, and using a screwdriver, opening and closing the points should fire the coil. Holding the COIL WIRE near a ground should show a ZAP of some sort.
If the condenser is shorted after years of sitting, the system won't work. This is something that should be replaced along with the points. More help is on the way...good luck.
Stuart
