Sounds like the resistance wire has been removed or bypassed. The resistance wire is there to drop the voltage to the coil with the ignition on. The drop in voltage to the coil is to improve the point life. The 12.74 voltage at the coil would be great for an HEI distributor, but not points. The voltage at the coil neg. fluctuates indicating points open/close. The only reason I could see for the coil not fire would be not enough dwell on the points.

Checked the distributor to see that the rotor is pointing to #1 at TDC?

OK on the blue I see it now. my oops

Larry


I don't own a vehicle that isn't old enough to drink.