No, you give up way to soon....that magneto assy is old style..it is either an old 5 wire style or and ancient 4 wire style.. How many wires do you have coming out of it and poking through the engine 4 or 5? It seems to me that the 4 wire style had flywheel holes that don't line up very well with the points.
Take out the screws in the stator plate completely and rotate so you can adjust point gap against the lobe. Gently slide and align your flywheel onto the crank but dont intall nut. Just hand install. It doesn't matter at what point in the revolution the stator is as long as the points are at the top of the lobe height. Adjust your gap. Remove flywheel. Now put your stator back in place and screw it down but not too tight. Replace your flywheel and tighten. Adjust your timing using an ohm meter. You will have to rotate your stator and then final tighten the screws. (edited)