New ignition trouble, MAYBE

HELP!!

I have installed my new FBO Stage II Kit, and did the conversion from a 4 pin to 2 pin ballast resistor.

With the key on, I have voltage on the ECU side (but only 10.9 vdc) and with the key on START I'm running 10.9 vdc on the coil side. Both measurements taken with the ballast resistor NOT hooked up.

My battery was showing 12.27 vdc at rest.
Are these voltages correct (or at least normal)? Or do I have a voltage drop somewhere?

I also took the liberty to clean and replace some corroded fuses and solder some previously butt-spliced connections going up to the ignition switch.

After this, I hooked up the ballast resistor, turned on the key, and it promptly started to smoke. I shut everything off, and took out the resistor. It LOOKS fine internally, but it measures 0.5 Ohms (it's supposed to be a 0.25 ohm resistor). I was suprised it was not open.

Also measured voltage at the resistor wires AGAIN (with the ballast removed). 10.9 / 10.9 (ON, ecu side / START coil side).

Was the smoke just conformal coating burning off? Am I just being paranoid and picky about the voltage levels? Or is everything normal??