First.. oil leak near the starter / bell housing area may be either a leaky rear main seal, or a tranny input shaft seal.. just identify oil type to diagnose. As for the coil... No.. just swap to a 12v coil.. like a napa IC14sb and get rid of any resistors... distribuitor don't care about voltage... points dontc care about volts ( do care about current ).. Capacitor does care about volts.. but only cares when you get much higher than 12.. more like 200 etc.. ). Coke to run.. could be vacume leak.. probably not though.. Could be a bad ignition switch.. try jumpering yours.. heck jumper from battery hot to primare input side of coil with an aligator clip wire. Could be clogged carb jet, stuck float.. plugged fuel line. Check fuel flow at bowl drain.. that will tell you about line and float... might be missing the filter at the carb elbow and have plugged the carb up.. etc. No rocket science involved in rebuilding a MS carb.. How the ignition works? Power from the battery .. thru the ignition switch.. thru the coil primary..big wire.. low amount of turns.. strong magnetic field, to the points.. when points close as the distribuitor shaft rotates and allows the cam block to close, the points make a connection from the coil primary to ground... magnetic field charges in the coil.. distribuitor shaft still rotating now opens the points.. breaks the circuit.. magnetic field in the coil colapses, and induces a voltage on the secondary winding in the coil, thin wire.. lots of turns.. good for making high voltage... high tension line carries the high KV to the distribuitor cap.. where it is in turn sent to the correct cylinders thru mechanical timing opf the rotor and the distribuitor contacts allowing the spark to jump.. then thru the spark plug wire.. to the plug.. jumping the contact at the end, and to ground.. jumping the contact ignites the compressed fuel air 'charge' mixture... Capacitor is across the points as a debouncer to help prevent pitting and arcing when the mag field colapses and makes the spark.. etc. A step up xformer in an ac household product functions on a 'similar' principle.. just doesn't used pulsed ( on / off ) dc to do it.. instead uses alternating current.. etc.. hope this helps some.. Soundguy
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