Points is set at .020 inch with a feeler gauge at the high point of rotor. You set the points with a feeler gauge. One set of points at time turn crank and set the second set. They are 180 degrees apart.
Here is material from a manual that makes reference to an 1950 Sportwin. It has an ignition very similar to yours. It has a Rotor Magnet Magneto. Use it as reference for understanding.
I have not worked on a Rotor Magnet Magneto. Hopefully someone with experience with rotor magnet magneto setup can assist.
