I have come back to the distributor again when I found I had no spark at all. It is OEM and the wire are so brittle that one of the wires coming out the the capacitor on the side was broken off. This a solid state distributor/coil assembly.
There is bare/cracked areas so close to components/connectors I there can't be taped up.

I tried to find replacement parts, using the Toyota PN and that has lead me to the same conclusion, to purchase a after market replacement distributor on eBay for $250 (Toyota was over $800). While working with a local major forklift dealer/lease agent, I was able to convert the numbers on my OEM distributor over to a number that match several that were listed on ebay. In the ebay listing for this one for $250 in actually lists my forklift model number.

Not to happy about having to replace the whole thing, because of wire deterioration on molded components but at least I will save the labor of dis-assemby/re-assembly, etc..
That's the way it seems to be with solid state distributor.

I do suspect that the distributor problem goes beyond just the cracked/broken wire insulation, as the weak spark I did observer for a while might indicate a failing component. Now no spark!

Might be a week or so before I will get to the bottom of this since I have other projects I need to deal with now and still have another working fork lift on site.

Thank
Steve