When the armature spins inside the magneto two things take place. The simplest is that since the primary coil is moving through the magnetic field lines this creates a current in the primary coil (as long as the points are closed). If the points always remained closed this current would oscillate in roughly a sinusoidal way as the armature rotated. This primary current would in turn create an oscillating magnetic field in the secondary that would act in concert with the oscillating magnetic field experienced by the secondary because it also was rotating through the field of the Anico magnet cast in the housing.
Instead of remaining closed for 360-deg., if the points open when the current in the primary is maximum the current -- as well as the magnetic field due to it -- would instantaneously drop to zero. This rapid change in magnetic field (or, more properly, magnetic flux which is field times area of the coil) would be experienced by the secondary, creating a high voltage in the secondary due to the large number of windings. While this alone would create a high voltage, it's not high enough for our purposes.
The genius of Robert Bosch was devising the geometry of the pole faces and shape of the armature in ways to generate significantly higher voltages. When you turn an armature by hand it will reach a point where it becomes very much harder to turn further. This is commonly, but incorrectly, called the point of "magnetic zero" or "magnetic neutral" or "zero magnetic flux." There's nothing neutral or zero about it.
The reason for the rapid increase in resistance to turning is the core of the armature has reached the point where there is almost no overlap with the pole face so all the magnetic flux lines from the Alnico magnet are concentrated in a very small area. When the armature is rotated slightly further, instead of bunching even closer together, the flux lines find it energetically advantageous to switch direction through the armature. That is, if they were oriented so they pointed "left-to-right" they now point "right-to-left." This means the magnetic flux in the core of the armature, i.e. threading the primary coil, undergoes a change of magnitude 2x just past the point where the resistance to turning is largest.
Not coincidentally, this happens when the current in the primary already is near its maximum so this significantly boosts that current. So, if the points open when the magnetic flux lines are switching direction the maximum possible voltage in the secondary will be generated. In the case of our magnetos the "E-gap" is a bit of a red herring, because the notch in the armature aligns with the "pip" in the points plate to automatically set the E-gap where Lucas or BTH decided it needed to be. The E-gap is not adjustable in our magnetos unless someone goes out of their way to screw it up using files and hammers.
In the case of a vertical twin the plugs fire 180-deg. from each other, which is ideal for a magneto since it generates maximum current/voltage at the two orientations of the armature 180-deg. apart. A Vincent (or Harley, or Indian, or JAP,...) has to accept something less than ideal for one of its cylinders.
Although a Vincent is a "50-degree V-twin," the HT leads of the magneto don't fire 50-degrees apart. The configuration of this engine is equivalent to a vertical twin (e.g. BSA 650) whose cylinders have been split to be at 50-deg. rather than 0-deg. with respect to each other. As a result, lobes one and two on the points cam need to be 155 degrees apart. The reason for this is, since the magneto operates at half engine speed, 155-deg. corresponds to 310 degrees of rotation of the crankshaft. Thus, if one cylinder fires at 0-deg., the second fires after the engine turns 310-deg. further, i.e. 50-degrees less than another full revolution (360-310=50). It then takes another 50-deg. for the crankshaft to get back to the first cylinder, which is now on its exhaust stroke, plus another full rotation before that cylinder is ready for another spark, which is 410-deg total (50+360=410). So, the angular separation between the second lobe and the first needs to be half that, i.e. 205-deg. Since 155 + 205 = 360, this all works out.
OK, what the previous paragraph means is if the timing is set to be "perfect" on the rear cylinder then for the front cylinder it will be too late with respect to maximum from the magneto by 25-deg. That is, the output of the magneto for the front cylinder will be the same as if it had been retarded by 25-deg. (50-deg. on the engine). While not optimum for producing maximum output from the magneto, note that the max. advance range of ATD units supplied as standard for some other marques was 18-deg. (36-deg. engine) for some models, and as small as 11-deg. for others. This amount of advance wasn't determined by a limitation of the output of the magneto when retarded from optimum, but by the requirements of starting an engine. If a particular engine gave max. h.p. when timed at 38-deg. it would start badly, if at all, if the ATD had a range larger than ~19-deg. resulting in the spark occurring ATDC.
A KVF certainly can supply sufficient voltage to fire the front cylinder at kickover speed. However, reduced magnetism of the Alnico due to the partial demagnetization that is inevitable whenever the armature is removed and replaced means you will be needlessly stressing your right leg if you have someone rebuild your magneto who does not own a proper ~70,000 Amp-turn electromagnet.