Look for the factory resistor. You probably have two resistors now, which is why your voltage is even lower. Since you only had 6v before, you surely don't need to be adding a resistor. Remove the one you just installed. Don't know why it is smoking. Maybe a short.
Did you check for a spark, as I suggested?
A very simple way to determine if it might be a voltage issue is to run a jumper wire from battery + to coil +. This eliminates the entire ignition circuit and provides full battery voltage to the ignition. If it starts, then it probably is a wiring problem. If it still doesn't start, then it is probably some other problem. Remove the jumper wire as soon as you have finished the test.
Again, acquire a shop manual. It will have a wire diagram that will help to identify the resistor wire. I think it is pink, but not sure. And the trouble shooting is great, probably better explained than anyone here will do.
Lawrenceville, GA