Your B&S engine - a 92502 model - was built on 22 September 1987. All B&S engines built from 1982 onward have no points, so you are correct about that. A simple ignition test procedure is to isolate the kill wire (engine stop wire) to make sure it is not grounding intermittently due to, for example, having chafed through its insulation somewhere, make sure the module has the correct air gap and is properly grounded (not loose or rusty where it mounts), clamp a spark plug with gap increased to .060" by its metal body to a grounded metal part of the engine, attach the ignition wire, remove the normal spark plug so there is no compression, set all controls in the start position, and pull the start cord while watching the gap in the modified spark plug. If you get a steady stream of blue sparks, the ignition system is good. If you get orange sparks, or intermittent sparks, there is reason to suspect the ignition module is faulty. At that point, if possible try a known good module and see if that corrects the problem. Chances are someone on this site can help you with a known good module for an early Magnetron B&S - it is a very common engine type.
