Purchased a '71 cl350 and I have it running only on the left cylinder. I've done some research and tried a few things. The right side coil gets very hot when turning over and check spark with the plugs out. Maybe it gets hot just having the key on, also there is some sort of wax the drips off the coil when it's real hot. No spark on right side....I've put the multimeter to the lead going to the coil I think I have to have the point open for this to happen. Anyway, I just want to make sure i'm using the correct terms here. Is it possible that the coil is bad? There is some wear on the point to the right side after I took the thing off and tried to polish it up a bit. I didn't look at the left one because it was working. Is there a better way to trouble shoot this....
Also there are two studs with a slot and a nut on them under the cover to the points...of course I had to to see what the did. They rotate about 180 deg and can move in and out a bit. Hope I didn't mess things up too bad.
Okay, if the coil is melting I'd say it is bad. Luckily you can get them on ebay for cheap! So I'd do that first.
Secondly, you have to be methodical about the ignition system on these bikes. Or probably any bike, I only know these.. Anyway, after getting the coil replaced, use you voltmeter to check all the connections one by one from the plug boots to the coil to the condenser to the points, etc. Any one of them loose or dirty can make it run rough or not at all. You said you took the right point off to clean it up. Thats good, but did you re-set the point gap and the spark timing correctly? You have to do it just right and it takes some practice to get it done quickly.
Of course the problem could be the right carb being dirty or gummed up, but we'll not worry about that for now..
As for the slotted stud you messed with, your curiosity got the better of you. Those studs are the rocker arm shafts which have an off center, or eccentric, section in the middle that the rocker arm fits over. By turning it you changed the valve clearance, which is the tiny gap between the rocker arm and the tip of the valve stem. This needs to be set precisely, and I could explain it all here or you can just go to this website and download and print out the shop manual for this bike: