Function(s) of condenser in points-type ignition system?

The condenser in older points systems FORMS THE SPARK, by trading the inductive charge in the coil primary for energy in the condenser, the "flywheel effect" in a tank / pulse circuit.

Toolman even said it.........older systems with a no or bad condenser "run not at all."

In the waveform posted above, the reducing AC wave IS the condenser / coil trading energy, effectively stretching out the coil energy