I have no idea what "Points are gaped at .020 when pointing at the key for the flywheel" means, unless you've set them properly as mentioned below. If you haven't set them as follows, do so.
Point Setting:
Have the flywheel key aligned with the fiber rubbing portion of the points.
Set the points so that a .020 gauge will slide thru BUT a .022 will not.
Coil wire installation:
The pointed contact inside the coil wire hole is not just a pointed spoke... it is a spiral machined spoke, and as such, the spark plug wire is to be inserted with a bit of WD40 to act as a lubricant, then inserted into the hole and onto that spoke in a clockwise twisting action... pushing and twisting until resistance is felt that you are aware that the wire is screwed on as far as it should go.
Coil installation:
The small aluminum towers that the metal portion of the coil sits upon... notice at the top of those towers a slight bevel there. The upright metal portion of the coil must align with the inside top portion of that bevel to give the coil the proper clearance between it and the flywheel magnets.
Boot and wire to spring connector assembly:
The rubber boot, spark plug end.... With the wire cut to the length required, trim back 1/4" insulation again but do not solder tint the wires. Simply fan out the wires and fold them back against the insulation, cutting the excess off. Holding the spring wire terminal, estimate where the prong should be inserted so that the spring will be flush against the exposed wire. Hold the spring terminal away from the wires end (sideways) and insert the prong into the insulation and into the center wire, then swing the spring terminal in front of the exposed wire portion (makes a tight fit for continuity purposes). Spraying the inner portion of the boot where the wire will insert with a small amount of WD40 makes the installation of the wire a easy project.
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That setup should give you proper spark.
Proper spark plugs would be Champion J6C plugs gaped at .030 .