My guess is that your magnets are probably fine. Those motors (Elto Ace, Scout, Pal,etc) have a very reliable magneto, right down to the condenser. But don't discount the benefits of recharging the magnets on many of the older pre WW2 motors. I have a Lockwood Ace that I could never get a very good spark on... a quick zap on the Stevens charger fixed the problem! it now produces a good blue, healthy spark. I also had this done to a PR40 Johnson, and an Evinrude row boat motor with a magneto ignition... same problem, same results on all 3 motors.
It made a believer out of me!
Jerry Ahrens AOMCI Member MAPS Chapter President