Electronic ignition

BTW, I have Parallax Basic Stamp 2 microcontroller, is it possible to use it to do ignition timing and those kind of things?

I built an electronic ignition using the very same fairchild IGBT you mentioned. I used a traditional dwell scheme, not CDI. I have an old bike that ran on points, so I took out the points and put in hall sensors, magnets and a vane. In this setup the hall unit sinks current during a part of the crank cycle, just like the points did, but the difference between the hall effect device and points is that the hall device can only sink a very small current. I used that current to control the HGTP14N40F3VL turning the coil current on and off, making a spark when the coil current turns off (the usual).

You say you "have" a magnetic rotor and inductive sensor. Does "have" mean that you have intalled them on the bike, that they are in your possession but you haven't done anything with them yet, or that this inductive sensor is just an idea you have? I can say this, an inductive pickup like that has a signal completely different than the signal points give. It means that if you went with that pickup, you would have to change the rest of your ignition system. Easier to use a hall effect sensor, which sends the same kind of "square" signal points do; you would not have to change anything else on the bike: replace the points with hall effect, leave the rest of the ignition system untouched and be done with it... probably. There is a chance that you would have to amplify the signal from the hall effect (not all that difficult), but it is very likely indeed that even that would be unnecessary.

Well, think about what I've said and get back. I'll try to help you make the new ignition for your motorcycle.