Adam, I'm stumped.
Are we dealing with a stamped sheet metal cup or a some sort of cast cup?
I hate to be stubborn, but I agree with Daniel if it is stamped sheet metal. There is no way Clinton would pin the cup on like that. I have a 700 in my shop that I have spent a lot of time on. There is a pin that engages the cup, but the cup is slipped onto the crankshaft.
If Clinton really bent a tab down to engage the flywheel then you are probably dealing with unmolested original points and condenser, since no guy would probably leave it on there.
Adam, what 700 are we dealing with here? 700 A, B700 or a D700?
Peter, where does it say in the manual that the cup is threaded on?