We assume (dangeroius!) that the brushes on the dynamo are in good condition.
The cut out should not conect the dynamo to the battery until it is producing about 14 volts (A fully charged 12 volt battery would have a terminal, open circuiut voltage of 13.2 (2.2 x 6 cells).
So until the dynamo is delivering more than 13.2 volts, it will not chege the battery.
Since the current draw of the starer motor will be in the region of 300 Amps, ALL the battery and starter connections need to be secure and CLEAN. And the main battery / starter leads need to be in good condition.
Otherwise a small resistance will result in a voltage drop between battery and starter when drawing high currents. At 200 Amp current draw it needs VEY little resistance to drop two or three volts before the starter.
AND with the battery heavily loaded, the on load voltage will be will below the open circuit voltage, reducing the power of the spark.
This is why, Ford and Vauxhall used 9 volt coils,, normally fed through a ballast resistor (To reduce the voltage seen by the coil, in normal running, to 12 volts). When cranking, the ballast is shorted out feeding full voltage to the 9 volt coil for a good strong spark.
Often, it pays to depress the clutch while cranking,to disconnect the engine from the viscous drag of the oil in the transmission. (I once came across an engine that was a poor starter. It had a carbon thrust race on the clutch, rather than a ball bearing one). A few drops of oil on the thrust race improved matters markedly.
As ever, the devil is in the detail. Clean connections on terminals and leads (Of adequate capacity and low resistance) and a battery properly filled (Plates covered) and in good conditions.
AND a cold battery will not deliver the same power as a warm one.
Howard