so it's a bit dis-organized.
I'll clean it up and expand it later:)
First set the points gap......then the ignition timing.
So first thing to do is adjust the points gap to 0.3-0.4 mm
using a feeler gauge.
(well actually: as close to 0.4mm as possible,
The explanation for this is here)
When the gap is correct you can feel just the slightest resistance
moving the feeler between the points.
Recheck by inserting feeler
one size OVER (to feel if it's "tight")
and
one size UNDER (to feel absolutely no resistance).
Note that the cam has to be at
maximum lift /highest point of cam lobe/points fully open
when adjusting.

THEN it's time to bring out the 'static light'
to adjust the ignition TIMING

Please note that you have to do things in the above order!
IF you change the points gap
you will thereby move the ignition timing.
Note that there's two ways of setting the timing:
parallel or in series


You have TWO sets of points,( each feeding two spark-plugs)
You need to do TWO point-adjustments
and then
TWO ignition timings !!!!!!!
(they are on separate 'plates' and have separate sets of locking screws)
...................................................................................
Make sure that the cam is at it's highest point
Looking at the system, see where the point of the pen
...er...points:

viewed close up:

THAT is the highest point of the cam
Now turn the engine (using the generator bolt)
until that highest point for that set of
ignition point , is right 'under' the tap/"arm" that moves the
ignition point:

you are now ready to adjust the RIGHT points gap.
THEN rotate the engine till you have the 'high point'
"under" the LEFT tap/"arm".
Adjust LEFT side points.
THEN you do the ignition TIMING for
both sets as described in the pics above
or better till:
use the split-timing technique as per Randakk.
PS.:
IGNITION TIMING:
IF you have problems adjusting the
right side sub-plate/points set for cyl. 3 and 4
and you just can't move the plate enough to
get the adjustment right,
it could be that the fiber-"arm" on your points
are worn down too far.
Check this link: Worn down 'tabs'