What do you mean by "oil the rotor"?
Ignition timing should be checked and reset (if need be) whenever the point gap is adjusted. Gap .014"-.016". Gap 'em to the larger measurement as they'll wear to the smaller. Feeler gauges are readily available at Sears and any local auto parts store.
Cleaning with emory paper is OK but using a points file to square the points off again is better. Either procedure can be done with points in place, but probably easier with them out. The contact areas should be cylinders not domes.
If replacing points replace the condenser too.
A very small amount of dielectric grease on the following arm of the points ,where it contacts the dizzy shaft, will help prolong the life of the following arm.
Cheers!
Walker
1968 Series IIA-"Ronnie"
88" SW, 2.25L Petrol, LHD