Thanks for all the suggestions guys! Much appreciated! I forgot to mention that I did try exactly that. After the pump failed to provide any fuel, I followed Honda's service manual for testing it and I did jump the black and blue/black wires. The pump was dead as a doorknob. No sound, no clicking at all. All fuses are ok and power was reaching the pump. I also tested the relay as per manual with a multimeter and it was reading 12v as it should. Is the relay dead? Unknown. As for the tips, I had changed them before putting the pump back on and to be honest I may have bodged the whole job. One final thing; the pump I ordered is not a 25 euro Chinese jobbie but a TourMax fuel pump (about 110 euro). I read somewhere that they are identical to the factory Mitsubishi pump. We'll see.
Points simple make break operated by movement of pump plunger. Normally closed allowing power to pump. At end of travel points open allowing plunger to return which closes points for next cycle. Meter pump on Ohm range and it should be low ohms. If open circuit take cover of pump and trace wiring though. Could be that points / plunger are out of phase. And yes Tourmax is not a cheap pump With modern ethanol fuels best to leave for longer periods with dry carbs. Turn off fuel, pull connector from Fuel Cut relay or pump. Run engine until it empties carbs and stops.