its just as well that you don't have a meter... I'm pretty sure i screwed that up royally .. i was thinking ohms and saying voltage but it is still wrong. I can't decide if an ohm meter's fuse would be blown if the points grounded through the meter _OR_ if the engine would run at all if the meter was set to read volts.. Forget about those instructions.. i take it all back.
But do get a multimeter and learn the basics. It will come in handy.
So there's no kill switch? Where are it's wires?
In particular, are those wires' ends taped up and insulated and secure or are they bare and laying near a metal part of the frame and intermittantly grounding the ignition?
I'd find and trace them..