Many thanks for your help.
I'll try the plug wire suggestion and get back to you.
I installed an electronic ignition (Pertronix) complete with IGNITOR coil and set the timing. Could be just a bit advanced - maybe 5 degrees or so. Starts and idles great. Acceleration is also very good.
Knock or rattle occurs when I step on the gas at an engine speed of 1800rpm or more. Goes away when I let off.
Do you think it really could be just a timing issue? Guess I could retard to the factory setting to find out.