I'd be looking at engine flooding with engine off and petcock on.  

That's a common reason both for no start and for pushing out the crank seal.

I hate to say it but has it pushed the seal out again. Unlikely but!! Or has the spark dissapeared.

Got the bike back to my place late yesterday; no spark again. The seal's still in place, the three wires to the condenser are still attached and the points are still set properly, tried another, new, spark plug, nope. I'll test the coil later today.

Tested the coil, need some help.
Service manual states ;
Primary Coil Resistance Value 4.9 Ohms + or - 10% It reads 5.7 Ohms and 10%+ would be no more than 5.39 Ohms
Secondary Coil Resistance Value 11K Ohms + or - 10% It reads 13.75K Ohms and 10% would be no more than 12.1K Ohms
Is the coil shot?

The only thing an ohmmeter can tell you is whether the two sets of windings inside are open or shorted. Most of the time, the problem is insulation breakdown between windings and that will not show up with a meter since it uses a low voltage to test resistance. Best test is to substitute a known good coil. (or use a hi-pot or megger, but they are specialized tools not normally easily available)

Alnarv's advice is spot on in my experience.  

Also, those specs are at a specific temperature (68F if I remember correctly) and with an analog meter.  I've had many perfectly good coils read "out of spec", the only ones that were actually bad showed an open circuit which might not show up unless under load.

Yamaha had an actual battery-powered coil tester to test the coil under load.  

Beware of cheap aftermarket coils.  Many people have had issues with them and no spark.  Often the brand new coil will read perfectly in spec with an ohmmeter.  

Best is always use "known good" if you can as was suggested.  Emgo makes a coil that you'd need to make a bracket for but I've never heard of an issue with.  

Also, clean the points with strips of clean white card stock if you haven't.  So often I've found intermittent or no spark is simply dirty points (even NEW points can develop a non-conductive film on the contacts)

MarkT; Cleaned points with a piece of emery cloth (they are brand new) and tested the coil at 68 degrees.

That sounds like very high primary coil resistance from the plug coil. Also are they talking 11k from the secondary with a resistance cap fitted. I have the old yamaha coil tester from the :60's but only had occasion to use it once in recent years. Can you get a positive result on the black wire between points open & closed. I have a Yamaha points checker but can get a decent result on an ordinary analogue meter on lowest resistance. When checking just use a slow flywheel movement over JUST open & JUST closed. But if flywheel is off then same just levering points open & closed.

Do the points arc when you spin over the flywheel?

Brzn,

I didn't mention using "emery cloth". All it takes is a microscopic spec of grit to cause issues. It's not that emery cloth is "bad", it just needs to be followed with pulling strips of clean white (uncoated) business card stock through until the strips start coming out clean.

(business cards work good because the paper won't "tuft" and leave debris behind.)

At least twice members have sent me ignitions with no spark that all I had to do was clean the points like I just described.