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The key moves and stops at six positions
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That's interesting - I was expecting five positions, as illustrated below. Can we get a picture of the key switch and its wires?
I also don't see a reference to a green w/yellow wire, so perhaps there was some creative wiring done at some point, or the switch is not a stock CA95 switch? Spokes is the resident key switch specialist, so he'll likely have a better opinion on this than I.
The SE voltage readings seem odd but are a great clue. The SE wire on the switch, which I expect to be yellow, should provide voltage only in position III. SE should route to the selenium rectifier. If you're always getting low voltage at that wire, that would suggest that the selenium/steel diode in the rectifier has degraded and is allowing voltage to leak back. Assuming your battery is charged, a faulty rectifier could explain a constant low voltage. Selenium rectifiers can degrade over time simply from age.
What's the voltage reading at the battery?
