The v-reg does not use the "L" terminal on that tractor.
*Did you check to see that the coil is getting power to it?
*When you crank on it, put a test light on the coil at the (-) terminal and see if it flashes when the points open and close.
*Did you check the timing? Maybe the points aren't adjusted correctly....
From your description of your "testing" it sounds like you just swapped parts around guessing.... and you didn't even list what parts you tried switching. So, until you do some testing, not much we can tell you other than give you a mile long list of possibilities, or you ask a specific question. "Why won't it run?" is kind of a broad topic.
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