So far,
The condenser arrived and I thought we had it beat. Still no spark. 
I remember when I was much younger but probably not any wiser declaring that I would never own anything that required whit worth spanners.
At least it is fairly easy to pull the flywheel off, but I am not sure how much more the flange nut will take.
Pulled it apart again today and retested the coil and condenser, renewed all of the insulation on the wire from the points to the coil as I had originally used a piece of fuel line and it was a little larger then desirable underneath the pad which insulates the points. Resoldered that wire onto the coil (it was only hanging by a few wires) and refitted the spark plug lead and reassembled. Tested the resistance from inside the points when open it is a reading of 350? which I think would be the coil and condenser combined and 0 with the points closed. Still no spark according to my spark tester. I was that confident that I held onto the spark plug lead.  Eureka we have a small spark but to weak to jump a 0.015" gap or to see it, but I can feel it. I use an electric drill to turn the motor over so speed is not an issue. 
The only thing I can think off is that the magnets in the flywheel are too weak, or with all of the cleaning the gap is too big. I did note that the inside of the flywheel opposite the magnet is also magnetic, not as strong as the magnet but still magnetised. This seemed a little unusual but I do not have another flywheel laying around that I can check it against.
Open to any suggestions