I agree with GMC about the grounds. A click like that is usually a bad ground or connection. Do you have an engien to frame ground? The Negative side should be grounded to the block and body(frame).
Are you sure your points are opening enough? Try this: Remove the distributor cap and rotate the engine until the points are closed completely (important!) Take a 12 volt test light (make sure the bulb works!) and connect it from coil (-) to ground, and turn the key on. The test lite should lite. Now, reach down with a screwdriver or some tool and open the points. The light should go out.
If that works, have someone crank the engine while you keep the test lite on the coil. The light should dim, but also flicker. If it flickers, the points are working and teh coil is bad. No flicker means the points are not breaking the circuit. Bad/misadjusted points, bad condensor, bad distributor bushings.

I just reread your post. Do you have 1 or 2 wires on the positive terminal of the coil? You should have 2/ 1 from the key to the resistor to the coil, and one from the starter "r" terminal to the coil

Good luck. Let us know