Charging stator or is this a point magneto type ignition that you are unsure of?

This is a point type with the coil under the flywheel. I think I might have found an explanation. It reminds me of the way the pre-68 Triumph motorcycles were timed. Adjust the point gap and then rotate the backing plate. If it was off a little, a slight point gap change would dial it in.

Here are the instructions that I found:

Rotate the crankshaft until the points are open with the follower on the highest part of the lobe. Set the gap to .020.

Rotate the crankshaft to set the piston at .080 BTDC. Approach .080 by turning the flywheel end of the crankshaft clockwise. This is the direction the engine runs and takes any slack out of the assembly. If you overshoot, back it up and approach it again from the clockwise direction.

Disconnect the primary lead and hook your meter across the points. Loosen the stator bolts and rotate to find the point where the the points just break. (It should be about midway in the adjustment range of the stator). Lock it back down.

Hook your primary wire back up. Clean the points with a piece of paper. Button everything back up making sure that you don't pinch and ground out any wires.

This post was edited by baymee on Sun, Jan 20, 13 at 19:10

Bing! You win. You will want to be sure that the mag is tight when setting the point gap. Usually there would be an indent on the casting from the washers.