Double check the battery and key.
As for setting static timing. I've pretty much given up on trying to do it by the book.
12v test light, extra wire with alligator clips. Attach ground to the block (the hole for the points cover works. Clip the gator wire onto the test light, and the other end at the odd colored wire to the point. Blue and yellow respectively.
With the key on and the kill swith to run, and a battery tender attached. Slowly turn the crank until the test light comes on. The light turning on is the moment of spark.
If you are off by ALOT on the 1.4 point, nudge the plate left or right (i can't remember which way is adv, the manual says). If you are advanced a little, simply closing the point can retard the timing. Rotate the crank around again. Observe the moment when the light comes on.
Reapeat as necessary until 1.4 is in time. On the F mark, as close as you can get it. 2.3 is the same method, except the big adjustment of the point does not require moving the whole plate. Just point base. It is really important that you've got the 2.3 point firing at the same relative mark as the 1.4 - motor wont run smooth if 2/3 is firing a degree or 2 off of 1/4.
As for dwell and gap, I've never had an issue with my points not opening enough.
(Excepting when the set screw vibrated loose mid ride and I lost 2/3 about 30miles from home)
Early experiments with dwell and dynamic timing settings made my 550 run worse than Simply getting the point to open fire on the mark