Again thanks for the feedback.  I set the points using my timing light.  It's a Snapon w/advance dial so I played a bit.  Seems the optimal gap is .015.  Spark knock is gone, plenty of power and idles fairly well.  Starting could be easier - if I use the choke, even when hot, it will fire right up.
And yes, the points are\easy to adjust when running. Just loosen the hold down screw a half turn and tweak the points using a flat blade screw driver as was suggested. It's good for another 15 years.
Thanks to all that posted suggestions and guidance.:drink: