....but I finally found the problem by poking and massaging wires. It was difficult to find because most wires around the steering lock would make the display change or gauges move. Poking around under the fuel take would also make things go haywire. I was finally able to find a bad connection in the large loom of wires under the tank on the left hand side. There are several wires that are crimped in parallel. This was where the white wire combines three into one. I think it comes from the regulator and goes to the steering lock and dash. One of the wires was broken at the crimp, but it was still held in place with the tape. This loose connection must account for the low voltage reading on the dash. The crimps look pretty solid in general.
Well first off,
thank you ginz' for coming back to let us know what you found. There are others that haven't bothered to take the time.
Secondly, where are you exactly with this? You mentioned that you found the problem. Does that mean exactly what it says, or is it now all repaired, put back together, road tested, and in running condition just like it used to be?
Thirdly do you have any speculation as to why this might have occurred?
You mention a spot above for collecting water, did the crimp down lower appear corroded? I'm guessing it's down low below or near the bottom of the fuel tank on the left side of the bike, correct?
The first photo with the blue tape has the most background info and does appear to be below or along side the lower portion of the gas tank area. It doesn't seem to be a high stress area for any maintenance procedure so perhaps if not corrosion failure, it's a factory assembly error, or manufacturing defect? There does appear to be a harness (loom) bend there in the shop manual drawing. Do I have the locations roughly correct in the attachment?
edit: I just looked at mine, and I think the potential water collection point is further to the right out of the drawing and isn't where I have it marked.