Thanks guys..thanks Wrenchbender..this is the one I bought from ya...points look new??

I did a few more checks...I also backed the points out a bit to what I called .016...this I did in "closed" position...

...with the small dist wire (from coil) removed and with the test light clip on the main starter post- I did not get a light when I touched the point wire or coil side points. I did get a light when I touched the backing plate and the point which is connected to the backing plate. I did get a spark between the points when I closed the gap with the tester needle... The light produced by the backing plate remained solid during engine turn over...I then unhooked the condenser and tried again but nothing changed..

...the opposite happens with the small coil wire hooked back up and the test light clip on the frame...I get a solid light at the coil side point but nothin on the plate side...

To answer your question Beaver...I'm not sure about anything at this point : ) I do have the ground strap from the starter to the firewall as well as the cable from (-) battery to the firewall. I also tried a jumper cable clamped to the frame and engine with no change to the test above....