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Well, the brass ring and retainer seem to be correctly oriented. The crank does not appear to be galled from aluminum transfer either. I would start with trying a different flywheel, which is the easiest place to start.
Someone raised a good point about the missing fasteners, perhaps the mag plate is just being drawn upward because it is loose. I realize the screws are missing because you pulled it apart for pictures. Nonetheless, reinstall the fasteners, then try lifting up/down on the mag plate to see if it is loose for some reason. And, it is surely possible that someone pried up under the mag plate while trying to remove the flywheel in the past, which may have bent it.
And yes, once the clearance issue has been resolved, that ignition system looks to be in tough shape.