Hy bowtiefan, are the points actually grounding at the distributor, make sure the points are closing fully. If you know the points are closing and grounding the circuit, then you could test the coil output by taking the coil lead out of the distributor cap, and securing it within 1/4" of a well grounded surface on the engine, with the points circuit energized open and close the points with a screwdriver, you should get a spark to jump from the coil output lead to ground, you can repeat this test many times, you should get a spark everytime, hope that helps.
