Just taking random readings will just confuse the issue. That's true on any system.
Follow the install instructions to get the wiring right. You should get good voltage too the coil and Pamco.
The Pamco works very similar to points. Points just turn the power flow through the coil on/off. The Pamco does this by using transistors. The magnets in the rotor turn the hall effect transistor on and off.
When on, the Hall effect transistor is on, it sends a signal to the main power transistor. This signal turns the main power transistor on so power can flow through the coil. As the next magnet passes the hall effect transistor it turns off.
There is a few more parts for circuit protection.
Now if you have everything wired right doing the test on Pete's ignition site will help you determine just what maybe wrong.
Is the coil a new one that came part of a kit? And what tests did you use to determine it is good?
Leo
