Well, the problem is fixed and it did not had anything to do with the points or rectifier.... There was 2 issues...

1) the voltmeter that we used was defect. It was jumping around from 0 to 12, and like someone told me, it made no sense since if the alternator was to be bad, the voltage would go from 14 to 12..not zero.... or else the battery would also be shorted...

So after testing the battery (which was good), we used another voltmeter and found out that there was simply no charging from the alternator.. but at least the voltage was steady..around 12v...

2) At that point we were sure that when the new rectifier and points would come in by mail, that we would fix the problem.... In the mean time, my co worker found a wire underneath the key-lock that was disconnected... he reconnected it and now the battery was getting charged.... So it's obviously an important wire that somehow must send a signal to the alternator to charge or something... just not sure... but the problem is gone and my good ol buddy is back in action....

Just wanted everyone to know about my experience.

Cheers.

S.