Re: Johnson 18 hp 1964
Sometimes new points have an invisible coating on them that prevents good electrical contact. Try cleaning them. If you have a good digital multimeter, check the resistance between the wire terminal connection and ground. Should be around an ohm when points are open and zero when closed. That is zero---not just close to zero. Can we assume you have them both gapped at .020" at their widest opening?
Another suspect is the spark plug wires. Sometimes they will arc through where they are clamped to the armature plate. Makes an almost invisible pin hole where it arcs through. While you are at it, check the resistance from end to end. Should be near zero. If open or high resistance, not good.
If no success yet, at least figure out which cylinder is missing. Remove and ground one plug wire and see how it runs, then repeat with the other wire. Chances are it won't make any difference with one disconnected and won't run at all with the other one disconnected. That is the good one. Now you can zero in on the bad one.