Not quite so Ewen. The points do act as a switch, but on a magneto there is always continuity because the points are across the low tension coil of the mag, which has a very small resistance of about half an ohm. So a bulb stays lit. You need a specially-designed device or a very sensitive ohmmeter which will show the difference - the latter is hard because many meters aren't good at such low levels, and there's no guarantee there's zero resistance across the points when they are closed anyway, although it's desirable of course!
Or do it the 'old way' with a slip of thin cigarette paper to determine the moment they start to open . . .