RE: Ignition question
You can hook the points up with a coil and battery no problem, if you can find a suitable coil. You might be able to cut down the stock coil and use it. You will find the current draw fairly high, but a 1500 to 2000 mah 3 cell Lipoly battery should give you over an hours running time. You will have to do current draw tests with whatever coil you use to find out.
Let us know how it turns out for reference,
AV8TOR