Yes, the 11.4 on the ballast + side should be the same as battery voltage. You're loosing a Volt somewhere between the battery and the resistor.
I would disconnect the battery and measure the resistance in that circuit, form battery + pole shoe (disconnected) to ballast resistor + (with the ignition switch ON). Then from ballast - to coil +, coil - to ignition box (disconnected plug) and then ignition box ground back to battery - pole. It should read zero everywhere.