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Tim, i will take a stab at answering your questions, but Steve at B&B custom circuits is the forum expert here when it comes to magnetos. He rebuilt my first one, before I got comfortable working on them myself. I was very pleased with how it turned out. Sandy Lake Implement also sells exchange magnetos or will rebuild yours. Both of their info is on the "parts etc" page which has a link on the top right.
Now here is a link that will show you how to test the spark on your mag and time it to your engine: http://www.worldpath.net/~thompson/acb/magtiming/magtiming.htm - http://www.worldpath.net/~thompson/acb/magtiming/magtiming.htm
Here is a link that will break down the different codes for your FM Mag:
http://www.oldengine.org/members/diesel/Magnetos/MagFMType.htm - http://www.oldengine.org/members/diesel/Magnetos/MagFMType.htm
I am either not understanding or not familiar with the "K46" you had listed. Are they both FM mags? Some wicos mags are out there and some early FM mags had a different cap and mounting style...Here a picture is worth a thousand words. Again, I may not just be knowledgeable on the K46.
If you decide that you have no spark and want to investigate yourself, you MIGHT have success just cleaning everything up. The last one I did for my IB just needed to be cleaned up and new points installed. Of course getting the ants nest out if it helped too.
If you are certain that it is a FM J magneto, I have a couple of .pdf files that are copies of factory service manuals. Here is a link for a real detailed service procedure for the FM J. http://www204.pair.com/bbg46/FM%20Mag%20Manual/Magneto%20Service%20Practices%2849-64%29.pdf - http://www204.pair.com/bbg46/FM%20Mag%20Manual/Magneto%20Service%20Practices(49-64).pdf
Hope this helps. Ryan
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