Ignition Demon 74 Slant 6
@67Dart273
The module is definitely grounded. Notches were made in the aluminum plate for the nubs that stick off the back and it is screwed into "clean" sheet metal. I have also checked the screw points with the multimeter.
As for the cranking voltage. Key in "run" voltage at the positive terminal is 12 volts (same as battery), and while cranking it drops to 8.5v roughly. This is from the "new" battery I mentioned after a full charge. Again with the starter test you described while cranking the voltage drops to 8.5 at the starter and battery. After cranking it is once again at 12 volts. The wires after this amount of time were in fact warm, maybe even a little hot.
I think this may be the battery after all if I am only seeing 8.5v considering the same battery was used with my stock setup and the hei now. As for the cranking issue I suppose that could be the wires for the starter as I am using the original ones.