The points are eroded by the electrical arc that occurs each time they open, thats why you found a large gap. Might have been better to replace points and condenser, but it sounds like you're happy with the way its running, so they probably have a little life left. It sounds like you must have removed the distributor. When reinstalling one, all you need to do to is get it timed close enough for the engine to start and run, but you really must check the timing at full throttle with a timing light, because the degree of advance at full throttle is the most critical setting. It's been awhile since I've had anything to do with a 340, but I think the flywheel has degree marks. If so, there should be a cover on the side of the clutch housing you can remove and a timing pionter underneath. Get yourself a I&T manual, find out how many degrees it should be advanced at full speed, locate that mark on the flywheel, and mark it with a white marker so it will show up under a timing light (liquid paper pens work great for this).
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Today's Featured Article - Tractor Traction - by Chris Pratt. Our first bout with traction problems came when cultivatin with our Massey-Harris Pony. Up till then, this tractor had been running a corn grinder and pulling a trailer. It had new unfilled rear tires and no wheel weights. The garden was already sprouting when we hooked up the mid-mount shovel cultivators to the Pony. The seed bed was soft enough that the rear end would spin and slowly work its way to the downhill side of the gardens slight incline. From this, we learned our lesson sinc
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