another project- another wiring problem!

I took a break from the 65 dart yesterday that was my attention last week. will go out this a m and check volt meter readings on it and see whats what??? and let it be known.....
I drug home a 62 lancer this fall. looks like orig. 170, 3 speed....under hood wiring appears totally stock. engine turns over freely. I rebuilt a carb for it, New: VR, ballast, battery, coil. I havn't yet pulled the dist.
I turned switch to "on", ( ign 1). readings: battery: 12.5 ( fully charged other day,might have used it start something ??)) 12.3 in and out of firewall. VR: 11.4 BOTH sides of it!!....... coil: pos and neg shows 11.6 , yes both sides...... (still has points dist.)...... ballast: 11.6 both sides of it.....like is say, key on ..... NOT in start mode(ign)
I can see some one has added a toggle that has current to it .... in key on position. looks like its been there many years. I will pull out front seat so I can get to see in dash hopefully this afternoon.
diagnosis???? thanks for any help..