Testing coil, ignition sytem and components?

With it running and probes on pos and neg coil posts I get 8.8-10.8v.

I just installed new NGK FR5 plugs last night and gapped at .045 per MSD to start, but I have tried .040 and .035 before with no noticable change.

Spark jumps to the intake bolt like a lightsaber from at least an inch away.


How do I test the voltage regulator?