Cruiser,
I like your VAC testing of the CPS rather than resistance. But, how fast the engine cranks ,during start-up, affects what mean VAC you measure from the CPS. Therefore, if I get a low VAC signal from the CPS, the CPS may be OK but the root cause may just be a low battery, bad electrical connections, or how far away that particular CPS is positioned from the flywheel teeth. So changing out the CPS may not cure a weak VAC signal, particularly in the case the new CPS is positioned further away from the flywheel teeth because of manufacturing tolerances.
It would seem to me, that a slotted CPS (for faster removal/install) and some precise way to minimize the spacing of the tip of the CPS to the flywheel teeth, without touching, would be nice. Then one could easily/accurately position the CPS as close as possible to the flywheel teeth to get the maximum VAC signal. What I'm saying here is; if the CPS tip spacing to flywheel teeth is spec'd at 1/16", may be the spacing needs to be precisely reduced to 1/32" to get a stronger signal.
Best regards,
CJR