Motorcycle Repair: 72 CL350 only runs with the points cover off, clutch cables, spark plug wire

Question
Hello, I have been slowly fixing up a 1972 CL350 that had been sitting for 14 years. I have replaced the rectifier, points (tuned by a motorcycle mech), tires, chain, battery, stop switches, throttle and clutch cables, spark plugs, plug caps, hoses and air filters, and one intake boot + gasket. I also cleaned the carbs and they are fine except for a sticking float hinge pin (not the main problem but if you have any idea how to get that out it would be much appreciated). I have had it going intermittently for about 100 miles now and this is the latest problem. About two days ago it died on me after limping home (it felt weak). It seems that problem was at least in part a bad spark plug wire and so I trimmed the wire a bit. It still didn't start up so I opened up the points plate and cleaned around with some contact cleaner because they looked a little dirty (some dirt and oil). After that it started fine but the points seemed to be sparking a bit more than they should. I don't have experience with points so I don't know if they were sparking too much, but it was a rather visible spark.  The bike only worked well for about a day. After that day of running fine it started to sputter so I stopped it to check on it. After stopping it I tried to start it up again to check if it would but it didn't. I opened the points plate cover and tried to start it and it started up fine. I put the cover back on and it wouldn't start. I took the cover back off and it started fine so I decided to leave the cover on loosly and to get back home. It ran ok on the way back - some minor sputtering but it got back fine. I am wondering if there is some vacuum issue or air mixture issue or air leak or something that is compensated for with the points plate off. Or does this indicate a badly adjusted set of points? Could they still be dirty or do they just need to be adjusted again? It is probably worth noting that the points no longer spark like they did a day ago but you can still see a small spark. I am wondering how they would work well with the cover off but not with it on. It seems like this would lead to the problem. Thanks for the help - This is my first time fixing up a motorcycle.

Answer
Hi Marc...

I haven't worked on a Honda that old in a long time, but here's my take...

Excessive sparking at the points is usually due to a faulty condenser ro bad connection to the condenser. The condenser should be replaced whenever the points are replaced. Now, as for the points cover... is there a gasket or rubber seal between the cover and the engine? If not, there should be. The seal keeps moisture and dirt out of the points. If yours is missing, it may be allowing the cover to come too close to the points and is grounding them out. Check these items out and see if they help... Thanks for waiting Marc...

Jack