Small Engines (Lawn Mowers, etc.): No start, Briggs & Stratton

Question
Have a three year old Briggs on a Poulan push mower.
Mower Model PR550N22SH, engine model 1000000 Q 500/550 series.
Cannot get a spark.  Has compression, has fuel delivery, the plug gets wet, not oily.  No spark with the plug or with a  spark plug tester.  No points, only has three ignition parts; the coil assy, the flywheel and the cut-out wire.  Disconected the cut-out wire, not a problem, no spark on or off.  Replaced the coil assy, gap at .10 inch, no spark, three magnets on flywheel, center one strong, leading and trailing magnets seem okay but weak. bars embedded in opposite side of flywheel are non-magnetic. How does this electronic ignition work?  What could it be?  Only thing to replace is flywheel or entire engine.  How can one get a spark out of this #$%#$% thing?  Is there a special way to test the coil?  It has 5000 ohms resistance and continuity, same as new one. I've been searching for a service guide on this for days.  Would appreciate any help you can give.

Answer
Leave the shut-off wire dis-connected to verify/test spark.

Get a new spark plug!  Test for spark?  No spark?  Is the coil on upside down?

Never saw magnets go bad...has to be the coil.

When the magnets rotate past the coil the create a magnetic field across the coil primary winding.  When the magnet pole passes and switches direction the primary field collapses and generates voltage in the secondary which produces spark.  All of this is aided via some basic gizmos (transistors) inside the module.

Dis-connecting the cut-off wire and checking for spark is the best way to check the module.

Eric