Be sure to check the ballast resister while cranking as this will drop the voltage to the points to a point you get little or no fire from the coil. I had the problem with a 34 Ford some years ago and did the same as you until I checked the voltage from the resistor to the points. The worn distributor shaft will effect the timing of the spark more than anything unless it is worn so much the points do not break. Just another idea from a old collector. Dave Woodson Trenton, Mo.