And No not just any B&S Magnetron coil will work. 5HP have their own coils and the 7-16 hp also have different coils. On top that the engines with cast iron blocks coils are reverse polarity.
For aluminum blocks engines any one of the following part numbers > 398593/395489/496914/793281/793281/591420 are used on 2hp to 4hp engines, such as 60000, 80000, 90100, Quattro, and Classic.
With the 591420 being the current part number.
Also it is not necessary to remove the old points and condenser just clip the wire going to it.
At one time there was a simple slip over conversion kit but if I recall correctly it is no longer available.