Thanks for all the replies, Guys!
I did finally get spark, but I'm not 100% sure which intervention rectified the situation. Here's what happened:
It was noted that the new points were hot to touch. The old ones were cleaned up and in the process of being installed when it was also noted that the insulated plastic piece that recieves the lead from the the coil and connects with the points/condensor was a little loose. The insulater was tightened and the engine cranked. Spark was had! The new points were once again installed and no fire resulted.
I guess the points could have been defective and grounding to the dizzy. However, Spark did occur when the points were separated with a screwdriver.
I'm gonna play around with the points and such some more, so I'll keep you posted on what I find. But right now I have to deal with the carburetor.
I'll post the situation with it in the appropriate forum.
Thanks again!