Quick update on this. I wanted to bench test it to see what sort of condition the engine was in. First I had to extract the wiring needed for the electronic ignition, which I did with dunnah's help. So I made up a little test loom and tried it out and when turning over the engine from the starter motor I was getting a spark but it was rubbish, closer inspection revealed virtually non-existent spark plug gap, set them correctly and I was getting a really good spark now. Connected up the fuel lines and tried starting but no joy.
I was a bit mystified as to how to manually time this thing with the odd electronic ignition, every time I tried manually it didn't produce a spark. Further investigation sort of indicates the timing isn't adjustable it's just set.
Anyway on this 97 dated engine and gearbox it has a solenoid fitted to the carb that acts as a fuel cutoff when the ignition is switched off. So it needs a 12v supply in order to start the engine, it had this but normally you would expect a nice click from the solenoid as it operates. So a quick play around with it I managed to get it to work and produce the nice click I was expecting.
So today I thought I would have another go at starting it and success, this is literally the first attempt. Number 1 it does help to put the fuel pipe in the can first and remember to bolt the gearbox cover back on. I have no idea when it last ran but it all seems mechanically and electrically ok. Enjoy the arcing and sparking below!!!!! It is in gear as you can see in the video, as it is difficult to select neutral without all the gear linkage in place. You can also see on the block the lack of distributor.
[ame]http://youtu.be/8C1j2Rh8SXI[/ame]