I set the points first like Jerry described - to just open after TDC - which matched up to 0 on the dist hold-down.
And yes - all CW!
THEN (!) I did the resistance test as per Racecarl! Got 0 with points closed and 10,000+ when they JUST opened. Which matched the 0 on the dist hold down.
HOWEVER - I don't see a braided (or any) wire from the top to the bottom - never even heard of it or seen it in any schematics! This is the same set up as yours - you can see the dizzy cap turn when you choke the carb.
Last edited by EtekRestos; 12/09/2011 5:31 AM.