I would make sure the dwell and timing are spot on, first, in that order. I have a four cylinder motorcycle that has points and 2 coils (one point set and one coil for every bank of 2 cylinders), and you can tell if the points are out of adjustment because cylinders 1 and 4 run too rich (retarded) and 2 and 3 run too lean or even detonate (points are on a plate opposite each other so the timing slips as the points wear). A dwell that isn't long enough (point gap too big) or timing that is too retarded will cause the engine to run rich and the plugs will foul, compounding the situation. Expect a little soot when the engine is cold but you shouldn't get much once it warms up. You did read another thread on the board about the right sight hole being above the starter, right? I thought so. The ball can fall out, so it may be that your hole is the right marker. Best of luck.
