Through rnd. 10. You end rnd. 9 with 200 sc, and rnd. 10 with 100 loops.

The "point" (rnd. 7) is made by working one direction and turning, and the last turn you will pick up the uncompleted loop and fill in. It was fun and challenging. For a better idea of how this was done, see the image below.
Here's the directions. The color codes may give you some help:

7th rnd: Ch 1, [1]* (7 sc in next sp) twice; 4 sc in next sp, turn: (ch 7, skip 6 sc, sc in next sc) twice: turn; [2] 11 sc in next loop, 6 sc in next loop, turn; ch 9, skip 5 sc of next loop, sc in next sc, turn; [3] 11 sc in next loop, 5 sc in incompleted loop, 3 sc in same sp between long tr's as last 4 sc were made. Repeat from * around. Join (6 points).
Long triples - WHEW! Tough to do as I kept letting the thread slip off the hook. ;)

Rnd. 6 used 2 long tr that were done with 5 thread overs; rnd. 8 had long tr. that were done with 6 thread overs.

My hands were cramped when I finished all this.
Rnd. 17 was easy having done rnd.7. It's just a few more "back and forth." You make 10 of these, and you really do use that funny little loop in the next round.
Done!

Click the two small pics to the left to see the doily in a larger view (opens in a separate window).

Rnd. 28 was fun. The directions read:

28th rnd: 3 sc in loop just formed. * 3 sc in next loop, 2 sc in next loop, ch 11, turn: skip 7 sc, sc in next sc, turn: in ch-11 loop make 6 sc, ch 5 and 6 sc; 3 sc in incompleted loop, 3 sc in next loop, 2 sc in next loop, ch 11, turn; skip 7 sc, sc in next sc, turn; 13 sc in next loop, 3 sc in incompleted loop. Repeat from * around. Join. (80 loops)

The "3 sc in incompleted loop" refers to the loop where you only made 2 sc. This round is done similar to rnds. 7 and 17. At the end, you have watch, as you can't do all the stitches, but you can figure it out if you watch what you've done so far and how it should look.

This was a wonderful challenge doily. It's not for the faint of heart as the directions make assumptions that you understand how and were to join many rounds. If you stop and think about it logically, you can figure it out.

Thanks to Christine for sharing this wonderful old time pattern.