Thanks for the reply sgtbilco, I purchased a crf50 chinese ignition system and coil, and your instructions are spot on other than the taper, it seems to fit quite well on my '77, I have yet to fit it but I have arrived at the very same conclusions as you describe above, with the exception of the shortening of the posts as I haven't got that far yet, I may get to it one night this week.
All up cost, $80AUD so if it works like a suspect it will, a very cheap conversion.
I will post pics of the mods required as I go.