I think you should give it to me.... Just kidding.
I have found that even though points look clean, they can still fail. They are not that expensive so I would just get a set and try it. It won't hurt. Plus your timing could be a little off, so I would make sure that your timing lines are lined up properly. Another thing could be that your spark plugs are not gapped correctly. I forget what the correct gappage is.
Also, the gap on the points for Colt's are 0.018 when open. Make sure carbs are clean, I'mm assuming there is 2.
If you have 1, and it is a gasket type carb, definitely run the sled a little leaner if you're fouling plugs all the time.
I saw those Colts, little too spndy for my blood. I like getting things free or cheap. I'm a teacher, so, you know the saying. "Teachers are cheap." Apparently they have never met me. I have spent some big bucks making my sleds look and run like new. I want to get a digital camera and put some pics of the beaties on here. Maybe soon, wife is pregnant with number 1 so I think we'll be getting a camera soon.
As far as your light goes, I thought that there should be 3 wires going to each light.? At least that's how they were on my 76 Colt. try hooking the wires on. If that doesn't help, your lighting coul might be bad. On my three wheeler, the light was getting dim, I put an extra lighting coil on behind the flywheel and the lights were very bright. Give it a try. I know where you can get some cheap parts.
Give this guy a call. His name is Tom. 218-741-1952
I have been told that with todays gas your mixture has to be a little bit leaner. As for yer spark problem check your wire, we had this problem on my Brothers 69 Whiz. I put the plug cap from my leftover race wires for my car on it and it hits great now. Those old ones were junk. They look kinda like a spring, and get very rusty.
1996 Polaris 680 Ultra SP (SLP triple pipes, SLP Needles, Boyesen Reeds, Custom Clutch Kit, 144 Studs)
1980 Polaris TX-C 340 (Stock, for now)
1969 Massey-Ferguson Ski-Whiz 297 (Stock, Studded)
1967 Pontiac Tempest Custom 400cid (10:1 compression, Edelbrok Torker intake, 700 Holley Dbl Pumper, Crower Cam, TCI TH400 transmission, Hurst Ratchet Shifter, Hedman Headers)
Co-Founder of SledHedz
Successfully outrunning the light at the end of the tunnel.