I'm hopeful things are coming good.
With the Magneto off my Flash now installed, starting is easier and fairly constant.
Timing is set at around 32/33 degrees ( as per Richards advice - thanks Richard), both points open to very near the same distance, perhaps a difference from sliding fit to dragging fit ( I think you guys will know what I mean).
Found a way to test points are open (needs a quiet shed) - with the timing set to where you want it and your smallest feeler wont go between the points ( mine is 0.0015) flick the points open with your thumb nail, if they are still shut you'll hear a click as they meet i- if they are open you wont.
Took a run on Monday around local roads, about ten miles in total, it started fine and runs sweet on tickover in fact it will run much slower than you want a rebuilt engine to do, went fine until it got nicely warmed up then when accelerating it started to sound like Geoff Capes was in there throwing hammers about, quite alarming - I'm presuming it's pinking ( I say pinking you say pinging) loud light tinkling disappears when you slacken off.
I was running without air filter I have since fitted the air filter and lifted the needle to the third notch (it was in the second), have not been able to get out since due to weather and other stuff, I've also bought 430 and 440 jets I'm on 420 at the moment.
Plugs did not look too bad when inspected, a very light dusting of soot probably due to the last hundred yards at tickover, central electrode and insulator a whitish grey so maybe running a bit lean.
Also pilot jet maybe needs to be smaller, it goes best with it turned way way out, similar to my flash which I cured by fitting a 25 instead of the 30
Will see how it goes with these alterations after this rain clears and I get it back on the road