Willie, you are confusing me. I made sure the points were opened by putting a plastic card in. With key on, I see 2 volts on both sides of ignition switch which made no sense so I checked voltage at end of armored cable at distributor end which showed 6 volts. I would think that says switch ok. So if voltage is entering distributor, what would I check next?
If you do it my way you you know all of that is okay (or not). The light going on and off is really showing you the points are getting juice. When the light comes on the points are open, when it goes off the points are closed, that means they are working.
Now if you crank the engine over and hold the coil wire next to the head and get no spark, you conclude the points are okay as well as the juice you need.
You can take the key, battery, points issue and set it aside. Condenser, coil and the coil wire can be checked.
Just keep eliminating components.
A new component that is un-necessarily replaced will compound your troubles.
The simple explanation is when the points are closed the coil is being saturated. When they open one field collapses over the second winding (within the coil) producing the 18KV you need to fire the plug. The points close and it starts again...All of that high voltage is at the tower and through that big coil wire. It should throw a spark to the head when you position it a 1/4 inch or so away, as was mentioned.
As an example if it does throw a spark. pull a plug out and lay it on the head and turn her over and see if it fires. Or have your wife hang on to it while you crank the motor. This only works one time.
Now if the plug doesn't fire but the coil wire will produce a spark you have narrowed this problem down.