tractorboy,
Edit my post to indicate what Baldy stated about points open/closed while reading coil voltage...I'm still struggling on this concept!
Keep in mind that the points are the switch that make the coil fire the plugs. Everything can be wired properly to the distributor, but if the 'switch' isn't opening/closing properly, then the plugs will never see a big ZAP.
A down and dirty test is to pull a plug wire and hold it slightly off a good ground while a friend turns on the key and cranks the engine over. You should see electricity jump the small gap as the plug fires.
This basic test tells you that system is intact, although it might need some fine tuning.
Stuart