Ok, so I reset the points and timing. Also had the coil wires (blue and yellow) plugged into the wrong mates. Blue to yellow, and yellow to blue. Swapped those around and it fired up. It idles like #$%*, and smokes a bit, but it's alive! Been sitting for 15 years, so I expected the smoking, and it's not that bad. Will probably just have to break itself back in again. It does need a muffler and the airbox put on for sure though. I think both of those will help quite a bit.
Next up is finishing my engine for my car, then buying brake pads/shoes, caliper and MC rebuild kits, tires, tubes, etc. Plus a LOT of cleaning and painting. I'll keep posting as I go.