Well, if you actually see a miss in the coil HV wire, that indicates that the problem could be in the point system, i.e., the points themselves, the lobe, the gear, etc., Since the opening of the points is what actually causes the coil to fire. Anything that affects the instant of time the the points open will cause the coil to misfire. since you say it is one cylinder only. Also, the dwell being too short, (points not closed long enuf) will cause a misfire at the coil output.
Another way you would see a misfire is if the coil is actually developing voltage ok, but the plug gap is too wide for the spark to jump it AND the wires, etc are in good shape insulation-wise so that the spark does not jump anywhere else. Most inductive-pickup timing lights are triggered by the spark CURRENT in the wire. if there is no spark CURRENT,i.e. (no spark discharge) then the light may not flash, the cause being a possible bad plug.
As before, good hunting. Regards, Georg
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