Richard, Thanks for the ideas. Yes I have Pertronix, but your statement, they only guarantee them to 16 volts confuses me. Should I take that to mean I should have more than 12-14.2 volts at the coil on startup?
I will perform the tests for floating ground you suggested. I did take my readings from the + side of coil direct to the - battery post and not the clamp, as you mentioned. My meter is a $4 Harbor Freight special, so you make a good point about "calibration".
Yes, I have a one wire alternator. A single 10 ga wire run to the top of the old regulator, with a new 10 ga run over to the battery side from there. Where there would normally be a two prong harness connector, there is a solid plastic plug on the rear edge of the alt.
I had read the madelectrical stuff when I was debating the one/three wire method. Obviously, I was sold on the one wire method anyway. I will review the info, especially the remote voltage sensing stuff again however. Thanks again.