I have a feeling I have heard of these before but it was many many years ago and my memory is not that good these days as anyone here will tell you!
I have a feeling it was a retard for easier starting or to help prevent run-on when switching off. Something like that.
Are you sure it is not an electronic distributor with the two wires for the iginition control unit?????????
If not I have one simple solution for you.
Put it in the trash and get an electronic ignition system. I have a pet HATE of points-type ignitions. It is well founded believe me.
Get yourself more power, longer lasting plugs, better easier starting from cold, reliability, etc, etc, etc The advantages over points is endless.
In the short term run without them connected.