Thanks everyone-

As suspected, my car had be "converted" to 12V, but without a ballast resistor. Points were badly pitted.

Being a B16B, aftermarket parts are severely limited - I looked for a Pertronix retrofit to no avail. Didn't work much harder than that.

Points in this setup carry almost no current, so should last forever barring mechanical failure of the spring... or such is my rationalization.

I removed the condenser. Had to monkey with the timing a lot to get it close, and now the rotor angle is far enough out that I'm getting misfires. I believe the solution is to reduce the point gap so that closure occurs closer to the points' normal opening position. Haven't had time to mess with it though, so the jury's still out.

If this doesn't work out, I can always go back to points, this has been a fairly non-destructive installation.