Ok. Is this the right time for humble pie?
Took the engine out last night and started looking at the issues at hand. Didn't get real far as had other obligations, but found I needed to do some maintenance from it sitting so long.
So tonight I took off the flywheel cover and vacuumed out all the mouse nests. It's amazing all the places they can find to fill up with leaves, paper, and anything else they can find.
Next, pursuing BOTH the thoughts of the points and the detonation issues, I tested the points settings. I found a really nice YouTube that described how to set up the points and how to test they are set up correctly. I messed with it and messed with it, but it seemed every time I gapped the points and moved flywheel, either the points didn't move or they did move but didn't come back to the closed position at the same point in the flywheel rotation. So I took them off and CLEANED them so they moved freely.
I also made up a new wire between the points and the coil when I found a crack in the insulation.
Needless to say, when I put it all back together, it started right up and ran like a top. I'm going to take it back apart and put in a new set of points and condenser. I'm also going to make up a new wire harness as many of the wires are brittle from age.
So what I think was everyone was on the right track. The points definitely were the issue but by not opening and closing freely, they may have been igniting at the wrong time causing the detonation condition that was destroying the spark plugs. That's my theory, anyhow. And the main lesson learned? Maintenance is everything!
THANKS to everyone for your thoughts and assistance. And for your patience. It will be fun to run it again!