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Kent,
I'm a bit confused. You have 8V at the coil but you have 12V at the points? That is not a logical condition. The voltage measured at the points cannot be higher than the voltage at the coil.
Remove the wire from the minus side of the coil and check the coil plus side voltage again. You should have 12V. Ground the minus side. You should have 8v (or something close to it) at the plus side now. If so, the supply side is good to go. If it is 8V with no wire connected to the minus side, it is shorted internally.
Just out of curiosity, check the voltage at the open points while the minus side wire is still disconnected. If you have 12v at the points with the minus side wire disconnected, it is wired wrong.
Does your aftermarket setup remove the ballast resistor during cranking?
sd
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