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I have voltage all the time to points even with the switch off. What do you think?
I was thinking the voltage reg. might be stuck!!!

Thanks

Somehow you got a always hot wire going to your coil. It should have a switch controlled hot wire going to it.

I'd say it is either the regulator or the resistor bypass relay. If you have a voltmeter check and see how much voltage you have at the coil on the + terminal. If it is about 12v then it is in the bypass circuit, if it is lower then it would be somewhere in the rest of wiring for the running side and the reg is the most likely suspect.

You could also check by disconnecting the resistor. If it stays hot at the points, it is in the resistor bypass. You might want to check to see if the fuel pump remains running too.

_________________
95 Isuzu Trooper Daily Driver
86 Isuzu Trooper reliable backup
77 LUV 2wd stock beltway blaster (resting)
79 4x4 LUV project: 2.6L, 5spd, 31s (eventually)

MEPR: Man, my 4x4 makes all other LUVs look good

I would unplug the regulator, see if voltage goes to zero. I'm thinking even the bypass voltage goes through the ignition switch though. You can always rap on the supected relays. Sometimes cures many things, though temporary.
I would start disconnecting things and chase it down that way. Will need a schematic. Maybe the one in the info section of this site.