the gear should have a flat spot on the edge not a sharp point but from your post it sounds like only part of it is worn. like already posted check the lash, install the distributor and gently turn the rotor back and forth, you should be able to feel when it makes contact. if there is little to no play you should be ok.
Do everything with a positive attitude, it won't always work but you'll piss enough people off to make it worthwhile.
the voices aren't real but they sure have good ideas.