A couple of things to check before focusing too much on the ignition system. Is the engine hard to start, or does it start good after one or two attempts?
Check compression. You should not see more than 10% difference from the highest to lowest reading.
Carburetors. Make sure the carburetors are clean inside and no debris in the fuel bowls.
Fuel pump. Make sure the diaphragm is not hard and stiff. Should be relatively soft and flexible.
Sounds like you have the ignition system that the manufacturer was using in transitioning from the Switch Box type system to the CDM type. Stators that have the Green/White and White/Green wires should read 500 - 700 Ohms with the wires disconnected from the harness.
You should have a Switch Box that drives the ignition coils? The adapter in line with the stator conditions the voltage going to the Switch Box either by smoothing out spikes and or reducing the voltage, not exactly sure what it does.
How are you measuring the voltage? Are you using a DVA adapter on your meter? If you are, the meter should be set to DC volts and measured on the Green/White and White/Green stator wires. Typically you should see around 180 to 200 volts DC with the engine running.
1. Measure the resistance across the Green/White and White/Green stator wires. Should see 500 - 700 Ohms. Make sure the wires are disconnected from the harness.
2. Check the voltage regulator output. You should see 13.5 to 14.5 volts DC on the red wire at a minimum of 2500 RPMs. Also try disconnecting the two yellow wires that go from the stator to the regulator to see if that has any affect on the problem.