Well, the magnets in the flywheel are fine, and I spent two hours fooling around with the ignition system of the Suzuki. I learned a couple of interesting things.
The most interesting thing I learned is that the points have to be shorted to ground ONLY BY THE FREAKIN' COIL AND NOTHING ELSE and it's a bitch and a half to figure out how to make that happen when this is the first time you've had anything to do with a points ignition in decades.
I took the capacitor and the coil off the magneto assembly (seperately) to verify that the points were not shorted all the time, as they were when I first discovered that the thing wasn't making any spark.
Now it makes spark. This is progress.
...but it still doesn't try to fire, and so that's going to be the next thing I mess around with. It's got to be all carb now, because there is compression and there is spark--the correct fuel to air ratio is the only thing that's missing.
The manual is woefully nonspecific in the worst spots. For example, it says to set the points gap to 0.35mm, but it doesn't say where the flywheel should be when you set it. I guess you're supposed to know. Since the points are supposed to have just opened when the timing marks are aligned, I know that's not it.
Anyway, there's a possibility it's a timing issue and not a fuel/air mix issue. I don't know yet, and I won't know until I work on it some more. What I do know is that I've got the points set to open when the timing marks are aligned, so that's correct, now.