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Need help on rewiring points on a 7.5....

Need a serial #. I am going to guess you have a phasemaker ignition because you mention insulators. Best fix for that is stator replacement cdi makes them and supplies new insulator blocks.
 
1970 model has the phasemaker ignition. If one wire is bad they are usually all bad common problem to those. The best fix is to replace the stator completely that will give you all new wires.
 
Thats a tough one you may get lucky and find the wires the issue is the stud for the points spring is soldered to the wire and it goes through the insulators. Another thing to be careful when pulling the studs out if you crack the insulators they need replaced. The main problem is they stopped producing those parts a long time ago be careful on buying used your likely to be giving your money away.
 
Yes, all of the wiring is bad, and saying bad is an understatement. Can I just run new wires? I noticed that most of the wiring is very fine, is there a reason for that? Cause I have been just running new wires for the most part.

Thanks.
 
The isnsulation on the wires mercury used basically just disintigrates over time. There is really no fix for it if you get really lucky you may find good insulation somewhere and splice in there. Easy test is bend the wire if the insulation breaks it is junk. I fixed a 20 hp a couple of years ago and bought the stator from cdi came with insulator blocks. The nice thing about replacing the stator was no more problems.
 
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