SOLD.Was offered here before for 7900.00, will negotiate, offers welcome. Runs good and reliable, has older amateur paint and interior. Registered and titled in PA.
Sounds like the advance mechanism is sticking sometimes, not always retarding when it should. Using higher octane may not be needed in your car if the advance works right.
You can use either. The test light will not light up, it will provide a safe path to ground for the spark. It is not for checking for spark, it is for seeing if that cylinder is contributing. There should be a noticeable drop in RPM when "shorting" a wire while running.
A grounded test light works pretty good, on cars with insulated plug wires you can slip the point between the wire and boot to contact the top of the plug. No shock, no harm to the ignition system.
Back in high School the shop teacher had an old Clinton mower engine that he ground the crank and cam timing marks off. You had to put it together without the marks and get it running. Great lesson and a great mentor, RIP.
Had a few B&S powered bikes, lots of fun, lost one when the leaking gas...