Re: 1970 85 hp V4

[Don]

Don’t know just how you tested that rectifier, but there are six diodes that are checked with an ohm meter set to the high scale. There are a few diodes in those shift diodes as well, the manual spells out the test procedures. The alternator winding resistance value you mention seems about right, will attempt to find a manual to confirm.
That "clipper circuit" is a lame attempt of protecting the powerpack/amplifier from voltage spikes resulting from poor battery connections. The alternator windings are shorted/perhaps grounded when high voltage is sensed. The procedures for testing it are in the book, although a little vague/confusing. Like I said, the rectifier is usually damaged quickly, even if the cables are reversed only momentarily. I suppose there is the chance that the cables were never reversed in spite of the red tape on the negative cable.
I would agree, the flywheel was probably not torqued properly if it came off relatively easily, be sure the tapers are clean and dry when you reassemble. The coil threads into the distributor, its voltage is routed to the rotor through a tab in the center of the distributor, the outer tab on the rotor delivers voltage to the four plug wires through copper/brass tabs on the outer edge inside the distributor. There is the possibility that the distributor/rotor is leaking/arcing causing the no spark condition, this can only be checked using coil tester to supply power to the distributor, then probing for leaks. These items are pretty expensive if you can find them, so I would no just replace them unless you can confirm they are leaking/arcing.
Did you have a look at the points? Are they gapped correctly? Was the anti reverse spring present, was it working correctly? If the ARS is somehow jammed/stuck on the ground tab, this would cause a no spark situation. Be sure to use a little Loctite on the stator screws during reassembly.