Short backstory to start off...
I recently got my hands on a 1974 ES125/1 that had just been imported from Germany. It has 27000km on the clock, and the *story* is that it was restored in 2014 and sat in a garage since, and I'd say the bodywork condition supports this as it's pretty much mint. Only problem is that it ran like an utter pig when I got hold of it, wouldn't hold an idle and sounded like it was running really rich but adjusting the mixture screw did precisely nothing. There were a few obvious problems like the exhaust leaking at the downpipe, an air filter that smelt of damp, no fuel filter, and worn float valve and needle. All of above has been corrected and I also decided to rebuild the entire carb with the factory specified jets for safety because some of them were larger than they were supposed to be. Stuck a new battery in too.
Now the thing won't start at all! To eliminate the bits I've messed with I squirted some easy start in the cylinder and kicked it over but still haven't had any luck, which obviously leads me on the thinking I need to check the electrics. Has a spark, contact breaker looking good (although I have a spare) and timing and points gap is iaw my service manual. However my new concern is the points cam. It looks to be lifting twice, about 60 degrees apart (the first lift appears to be the correctly timed point). The cam was pretty rusty but I've cleaned it up and given the felt an oil. I'm under the impression it's not a worn cam because it would be dropping rather than lifting in the wrong place. Without taking it to pieces (yet), my understanding is that the cam sits on the face of the armature and is held in place by a long screw which goes right into the end of the crankshaft. Has anyone had problems getting the cam seated correctly on the armature? Are there any other ideas that might explain my problems? I obviously wouldn't rule out the cam being worn, but it would be odd seeing as the only wearing item touching it is plastic, so has anyone found their cam to be worn before?
I'm praying that my crank isn't bent, although there are some good signs that it isn't.
- the contact breaker lifting is not inversely replicated on the opposite side of the cam (at least I can't see that it is).
-there are no bad sounding noises when turning over the engine manually or when it was running.
Video of the cam here: https://youtu.be/FXwSGonvD8I
Any help/experience/knowledge/opinions would be hugely appreciated, apologies for the newbie questions but this is something I just cant get my head around! I'm hoping that fixing this will be key to getting the thing going properly and then hopefully I can get a little bit of riding in before winter arrives!