The magnets are permanent magnets which do not go bad.
Clean the points with either lacquer or acetone and with a small hobby type brush. Set the points as follows with clean (acetone/lacquer thinner) gauges.
(Point Setting Of Magneto Models)
(J. Reeves)
Set the points as follows. Have the flywheel key aligned with the fiber rubbing portion of the ignition points. Adjust the gap so that a .020 gauge will pass thru but a .022 will not. Should there be any question of the points being dirty (touching the contact with your finger would cause them to be dirty), clean them with a small brush and acetone or lacquer thinner.
NOTE 1: Should the operating cam have a small portion on it with the word "SET" imprinted, align this portion with the fiber rubbing portion instead of the flywheel key.
NOTE 2: Should the cam have the word TOP imbossed on the top of it, that is a cam that could be installed upside down and this is simply telling you which side is up. It is not a position where one would set the points.
Thousands of parts in my remaining stock. Not able to list them all. Let me know what you need and I'll look it up for you. Visit my eBay auction at:
http://shop.ebay.com/Joe_OMC32/m.html?_dmd=1&_ipg=50&_sop=12&_rdc=1
Use Champion s/plugs gaped at .030 .
Sitting for two years?........ Clean the carburetor as it's no doubt fouled.
