I have been working on this problem for four month now and still haven't made any progress. I have replaced the magnetos, the condensor, the points, the high tension coil, the plug cover and wire, and the plug (BoschW8AC. I have tried both a resitstor cover and a non-resistor cover (NGK LB05F and a GYK LB0F).
I am getting a strong, blue spark when I hold the exposed wire directly to the cylinder block. Is it possible that my flywheel is not producing enough current? That is the only thing I haven't replaced.