Old school coils do run pretty hot as they are designed for 'fixed dwell' points. The inductance of the coil stores energy in a magnetic field, which is released as the HT spark. The inductance sets the rate at which the magnetic field is charged up when the points are closed, but after a few milliseconds the coil is magnetically fully charged and more electrical power just gets turned into heat. This is actually more of a problem at low revs, where the points are closed for longer. In extremis, leaving the ignition on with the engine stopped and the points closed will make the coil pop! Modern ignition systems are 'constant energy' systems, where the electronics works backwards from the spark point to decide when to start charging the coil. The modern coil doesn't have to be designed to withstand overcharging as it relies on the electronics to protect it. Fitting a modern to coil to an old school system can lead to problems. Having said all that, I would say that a coil shouldn't get hotter than 70C, which still feels pretty hot.