Looking over your photo, the most glaringly obvious problem you have is an inline filter.
The fellow I purchased a '47 2N from had installed an inline filter. When he sold it to me, he told me the tractor lacked power. I brought it home and pulled the inline filter out. Power problem solved.
I also suggest you recheck your firing order 1-2-4-3 and your reset your gap on the points. They easily slip when you tighten the breaker plate screws. They should be 0.015".
Good luck, and post back.