Have you pulled the plunger all the way out and inspected the cam side? Also if you are wanting non invasive fact finding the valves can be accessed through the spark plug hole. Knowing if the valves are lifting won’t fix your problem, but knowing they aren’t will give you more information.

What is the history of this engine? Going from running to not would make me suspect a worn lobe. If it is a ran when parked situation that may be less likely.

Lastly, because I am contemplating a full rebuild on mine as a winter project this has been on my mind. I would recommend searching the forums for “What is it worth” posts and assess whether its worth fixing just to sell. Unless you value your time and skills at zero dollars I think you end up losing out.
Of course if you want to do it as a project its a completely different situation. Have fun and keep us posted!
Yes I pulled the plunger all the way out, the cam side looked a little worn but not much -how can you tell how much? How long are these things spose to be? It stalled out on me when I was running it in the back of course, towed it with the wheeler back to the garage. Unfortunately for me this comes at a bad time when I have a bout a hundred projects that are greater priority. I moved it out to the barn so I have more room to maneuver in the garage. It will just have to wait, life is calling. Thanx for the advice. I will probably end up tearing into and keeping it cuz I really like the tractor regardless.
 
If you like this tractor, maybe you would consider eliminating the points altogether and convert to electronic ignition.
Veddy intadesting....remember Rowan and Martin's Laugh In? haha
Anyway, this is a very viable option, thanx. Although it pained me to do so I added the Pertronix EI to a friends '49 8N, with the help of some gurus on here! There was some questions about the amount of resistance I was getting, I like that this device can work with any coil no matter the amount of resistance and you use a non resister plug
 
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