Does the serial number on the magneto itself happen to end in the letter 'Y'? If so, it won't work without changing the drive gear relative to the cam gear. It is for another application. The reason I know is that I rebuilt one that was configured differently than the H4 mag on my '47 Farmall H. The oddball mag had an impulse that snapped at 90 degrees after top dead center and was stamped XR by the drive lugs.
If this mag isn't what you have, your drive timing is off. Worst case: Your cam gear nut has loosened and allowed the gear to get out of time.
By the way, the third mark on the front pulley is to line up the pilot bearing Alemite fitting on the perimeter of the flywheel with the hole in the bottom of the clutch housing when greasing the tractor.
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that�s wha
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