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Here is some info on the elusive and somewhat annoying Splitdorf /Dixie model M1 and M2 magnetos. These were used in many small engine installations and motorcycles. This is a factory manual describing the care and feeding to keep yours alive and well. They suffered from the usual woes of bad potmetal, insulation failure and sticky goo getting into the works, barnacles on the point contact surfaces, bad condensers, and wimpy coils. Be sure and measure the OD and pitch on all fasteners before a frontal assault with taps and dies. There are some special pitch threads lurking therein.
Check the condenser for electrical leakage. Many bad ones out there. If no leakage the capacitance should come in near 0.15 Microfarad. Some will be completely dead and open.