Ford Repair: no spark, spark plug wires, primary coil

Question
Hi Dave,
I purchased a 69 stang 302 bored, and need some help.  The car had not been started in about 5 years and started up fine the first few times, but decided not to start all of a sudden.  I diagnosed it down to it not sparking properly.  

The engine is turning over and I believe there is fuel being sprayed, but I can't seem to figure out why it doesn't spark.  I tested this by removing one of the spark plug wires and leaving it close to a grounded piece of the block.  

When I test the coil "bat" lead, it reads anywhere from ~1 to ~7 volts (varying over time).  This is without the wire connected.  Do you know what voltage it should be reading?  A guy at Kragen said that this might be a bad balast resistor which regulates the voltage down to max 9.6V, but the wiring diagram I have doesn't show one in the schematic.

I am trying to follow any wires back to the ignition to verify continuity back to the starter relay, but it loops back through the firewall to the ignition and I don't want to take apart the dash yet.  Is there any other tests that you can think of that I forgot?  Are there any other suggestions you can make?

Thanks for your time.

Regards,
David

Answer
I spoke with someone that knows a little more about older vehicles and was told the this vehicle does have a ballast resister and the primary coil voltage should be 12 volts while in crank mode and about 7.6 - 7.8 volts otherwise.

I hope this helps,
Dave