Yes, if there's no binding and the point alignment on the cam is OK you're good
The binding's completely gone- the lower shaft turns smoothly now. As for as the cam alignment I haven't gotten around to reinstalling the mounting base and the advance plate yet but I think I'll be ok- since I'm running the Pertronix I would think it'd be a little more forgiving in that department. But I'll check to make sure that should I go back to points in the future that the rubbing block on the points set will still line up properly with the cam.
