Good explanation Barry!
Ken - it's true, the points-in-a-can are able to go many thousands of miles more than the previous points systems because they're protected from oil and debris. But they still do wear, although slower. And the problem that tends to crop up with these is the rubbing block wear eventually causes the points not to open, so that needs to be checked every now and then, and the cam lubed to help prevent that.
Plastic bearings are available these days - I've wondered about adapting one for rubbing block duty. Perhaps the points would last forever...