Unless the machine has been left out in the weather, the coil is probably good. That leaves the flywheel magnets (probably also good), points and condenser. You must remove the flywheel to get to these items. The points should be gapped (during the high point on the cam that operates them) at about .015 " and the surfaces of the points must be clean (a gray color is right) and form a small cylindrical button on each side without bad erosion. The condenser is best replaced if you don't have access to a condenser checker. The flywheel should have an intact "key" that locks the wheel to the crankshaft in one position. I doubt that any parts for this machine are available except for a wrecking yard of some sort.
Keith
June 2009