No spark and i can only get 5V at the coil.

Are you talking about the rotor inside the distributor and the pickup coil?

Ive taken the measurements where they needed to be taken and found a hack job in the wiring while looking it over so i fixed it where it needed to be.

Currently getting less than 12v at coil + when starting.
Not getting spark at the plugs.
Known good cap and rotor
Air gap set at .008 with brass feeler as specified
Reset timing at TDC then reinstalled distributor.

Things to note
Rotor inside distributor seems a little worn and uneven
Battery drops to 8.4-8.9 when starting (dropping the power to +coil to match accordingly)