[nkaminar]

If, as you say, you are getting 6 volts at the point arm when the points are open and 0 volts when they are closed, but still no spark, there could be a couple of other things to check: I know you put a new coil in or otherwise I would recommend checking the coil. Check the high tension wire coming from the coil. Make sure it is inserted all the way into the coil. The little rubber boot can sometimes keep the wire from inserting correctly. Or it could be a bad wire (unlikely). But you may want to try a different wire anyway. If someone has used a modern carbon conductor they can go bad.