Does the points close on a voltage regulator on a 1967 ford mustang when ou turn the key on?

Yes, on a 1967 Ford Mustang, the points in the ignition system should close when you turn the key to the "on" position. This is because the ignition system is activated, allowing current to flow through the primary winding of the ignition coil, which energizes the system. However, the engine needs to be cranked for the points to open and close in their normal operating cycle. If the points remain closed without the engine running, it could lead to overheating or damage to the ignition system.