It's flashing so I'm thinking it ain't timed right. I'd get the timing marks on 15BTDC on #1 compression then set the P so its lined up/ready to fire with the rotor under the #1 dist cap. I think the trick is going to be turning the housing to the right position where the P is lined up/ready to fire the same as when points are ready to open or the reluctor tooth is just moving away from the magnet on a regular elec dizzy. If you have a new set of plugs on hand yes get em in there