Here is the link to the correct Operator's Manual for your tractor.
http://www.manuals.casecoltingersol...ctor Operator's Manual 9-4393_watermarked.pdf
You will find information regarding the spark plug type and gap as well as the point gap listed there. You will also find the CORRECT wiring diagram in this manual that shows the wire colours.
Here is the link to the correct Parts Manual for your tractor.
http://www.manuals.casecoltingersoll.com/PartsManuals/Case 446 Parts Manual B1279_watermarked.pdf
Page 18 shows you what the points box looks like inside and outside.
Page 44 shows you the travel/lift valve. ITEM 21 is the drain/test plug that has a hex shaped hole in it for an Allen wrench to fit into. This is the plug you remove to change out the hydraulic oil once you get the engine running OK. Remove the plug, put a bucket underneath. Remove the spark plugs. Spin the engine over for 20 seconds at a time and let the pump empty the oil into the bucket. When it starts spurting air, then you are empty. Put the plug back in and refill the reservoir to within one inch of the top of the tank.
Here is a link to the engine manual for the Onan used in your tractor.
http://www.manuals.casecoltingersol...B43, B48, CCKA Manual 9-51393_watermarked.pdf
This is a large file so be patient while it downloads. Page 30 and 31 talks about setting the points and testing the coil but you need a decent multi-meter to make that test. My test is simpler.
Right now... you know that the coil will give you a spark when the plugs are out of the engine and not under compression. Dealing with the points is the next step. If the points are in good shape and adjusted properly, then you should get spark when you spin the engine over as long as you have 12 volts going to the + terminal of the coil. Once you have that, then install the plugs, pour a small bit of fresh gas down the carb and spin the engine over to see if the engine will light the gas. If it does, then you have adequate spark and we can move onto dealing with the fuel supply issue.
At least now, you have the correct manuals in front of you to absorb and learn from.
You must be signed into the CCI forum in order for the above links to work. You can download those manuals onto your hard drive so that you do not have to access the site first to get to them.