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Has the advance unit stuck in the fully advanced position?
are the 2-3 points still timed correctly?
I don't see how valve lash would affect it, on the 750 the points are on the end of the crank, ignition timing can be set without the cam installed even. This is a 750/4?
There is so much "slop" in the system that moving the plate can alter the points gap by a large amount, gap should be 0.35mm to be exact and it takes a lot of messing to get both the gap and static toming spot on