Hold your horses buddy!!! I had exactly the same issue when I first got mine running.
The pickup is actually adjustable (sort of like adjusting points), so just close the "air gap" up a bit and you'll start getting a better signal.
My Wolf also has a step up on the voltage for the pickup. So it runns 'very low' between 0 & 500rpm, 'low' between 500 & 1200, 'medium' from 1200 & 3000 and so on.
Did you also work out that you just advance the dizzy 60*btdc not modify the dizzy itself?