There's a quick way to check the magnetic pickup. Disconnect the 2-wire connector from the pickup to the module and connect an AC voltmeter to the wires. Spin the distributor by hand, and the pickup should produce about 1/2 volt AC as the shaft spins. You can also check out the entire system by installing the cap & coil assembly and leaving the top cover off the coil. Don't forget to connect the wire harness from the module to the coil. Clamp the distributor housing in a vise and connect a 12V battery to the ignition coil + terminal and ground the negative battery post to the vise. Spin the dizzy shaft by hand, and sparks will jump from each spark plug terminal back to the coil housing. It takes about 50K volts to make that jump, so that's more than enough to jump even a wide plug gap. It's also possible to have a hole burned into the rotor which allows the spark to jump directly to the distributor shaft and never get to the plug wires.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!