Yes +4 timing is good. You should get a manual if you dont have one. They come in handy for trouble shooting.
2. Leak down test. you need a leak down tool for this. Do you have or can get one?
3. Stator test. Need a volt meter for this. Have one?
4. Gap pickup at flywheel. Need feeler gauges.
5. Coil test. Volt meter
6. CDI test. Volt meter
Stator resistance:
Ignition coil should be 13.7-20.5 Ohms (red to green wire)
Pickup coil should be 94-140 Ohms (white/red to white/green wire)
Coil resistance:
Primary coil should be 0.28-0.38 Ohms
Secondary coil should be 4,700-7,100 Ohms
Pickup coil gap: 0.015"-0.020"