When you hooked the coil up did you get the polarity right? Otherwise, the output will be low if you switched them. Also, you mentioned an oil problem, did oil vapors seep up the dist shaft and coat the points? A shot of contact cleaner, non oxidizing and zero residue might clean them up or you can clean them by sliding a clean piece of paper between the contacts when theyre closed. I have worked on Fords where there was spark but the timing was screwy. The gear on the bottom of the dist shaft had a broken roll pin and would slip and affect the timing. If you suspect the condensor, you can unhook it to see if the engine starts. It won't hurt to let it run a few minutes unhooked. adding an electronic ignition to your existing dist won't solve the problem if it is one I mentioned. If you hook up a complete OEM Ford unit you will need the correct dist, module ( brain box), coil, and ballast resistor hooked to the primary of the coil. Plugs won't need to be changed, but if your plugs are fouled you really should swap them out with new.