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With the wires disconnected at the points, test the points for continuity. If you have an analog (old fashioned, sweep-hand) meter, make sure you zero it out, first. When the points close, there should be ZERO ohms resistance across them. Even ONE ohm or higher, is a problem. With the points open, there should be infinite resistance on the high ohms scale. Any meter fluctuation is a problem.
Like Aquasonic said, unless you have a honest-to-goodness magneto analyzer, Like a Stevens or Mercotronic, you can’t really test condensers fully. They are cheap money and a good investment. It is really best to replace them, or you may end up flogging this problem for hours and hours.
Long live American manufacturing!