I'll bring up another naive question.
On a transistorized ignition, do you even need a cap/condenser?
When using points, the cap is there to prevent arching at the points. I've seen old automotive manual someplace that basically said the value of the cap should be based on how the points transfer metal at the contact point. When the cap is the right size, no transfer. This means that the cap is there to control the collapse of the coil at an exact rate to minimize arcing at the points.
With a transistor switching the coil, the switch is solid state and no arcing occurs. The only thing to worry about is the peak voltage that the collector sees. New ignitions don't have caps that need replacing so I expect that they don't even have caps across the coils..
I would guess that the cap does help tune a older higher higher impedance coil so that it's peak oscillation is optimum?
You're pretty close to it: the condensor's normal job is to absorb the coil's kickback (called back-EMF) energy when the points open, to lower the voltage spike to a point where it does not have enough energy to arc the points, causing their eventual demise. The value of the capacitor (in capacitance, rated as uF values) depends on the coil's inductance, time-constant of spark decay (i.e., how many times the AC waveform it creates during collapse travels back-and-forth across the sparkplug, the rest of which travels back to arc the points) and impedance (resistance) of the primary windings. However, the inductance of the condensor (they are wound inside, like a coil, as are some poly-mylar capacitors) is part of all of this, forming an LC circuit (called a "tank" circuit) to generate a little bit more voltage at the coil for 'free' in its resonant RPM (frequency) range. The inductance of the condensor is usually different (and a lot more) than is found in most plate-type capacitors, and is one of the major differences between "condensor" and "capacitor", and the reason why they are not direct substiturtes for each other in these bikes.
Whew.
The ideal capacitance for our TEC (OEM) coils works out to 0.245uF, and they can kick back 400 volts if not absorbed (then it is closer to 200 volts). If too much is stored, then the points have to dump it anyway after they re-close, making them arc then, too. If it isn't dumped, then you get the Dyna S syndrome where the coils can never fully discharge (above 3800 RPM in their design), making them run hot and shortening the spark duration. The ideal inductance is about 50 nH (nano-Henries) at 120 Hz (around 7200 RPM), important to know when selecting capacitors to replace condensors.
Electronic designs all have a 'flyback diode' clamped across the coil. This is done to both protect the transistor doing the switching and to cool off the coil by helping control its discharge rate: this extends the spark a little longer (just a few mS). It is sort of self-balancing in that as the coil heats up and lessens its inductance and impedance it also lowers it back-EMF, reducing the heating that would otherwise occur. In most cars now, this is how it is done: I haven't looked at bikes lately, but they are probably very similar.
CDI systems are a whole 'nuther thing, and too complex to talk about in a paragraph...