OK, just to be clear, you are measuring the voltage from the DISTRIBUTOR side of the coil to GROUND, right? And you are making this measurement with the ignition on, engine stopped and NOT CRANKING.
If that is the case, and everything else is in order, you should see EITHER 1) battery voltage (points are open); or 2) less than one volt (points are closed), ideally less than a tenth of a volt with new points.
It sounds like you have seriously burned points.
Now, if you're trying to measure the voltage across the points with the engine running, then it's anybody's guess what you'll see. Assuming you're using a digital multimeter, most DMMs have a hard time locking on to rapidly changing voltages. You really need an oscilloscope to look at the point voltage on a running engine.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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