He said compression is good.
As mentioned above try running a wire directly from the points to the coil. I had an old SP one time that needed that cure. Then, I'd start it up and put an inductive timing light on that cylinder to see if no sh!t it *is* ignition causing the problem.
Oh. And don't rule out a bad spark plug. I have an aviation spark plug tester that I've modded to take Guzzi plugs, too. I have seen bad new plugs.