do you have one of these:
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all battery power goes through the connections on the back and they often look like a mess
year and model might help with some specifics... omc used a lot of different systems for trim
I had same issue. Was a loose/corroded connection at the starter.
Check the voltage at your ignition when you apply the trim. Measure once with the neagtive lead of your meter touching the block and then measure again with the negative lead touching the negative battery post. If the voltages are equal, the drop is in the postive side of the circuit. If they aren't you need to look at the ground connections.
When you hooked up your new ignition, did you power the ignition before or after the ballast resistor? You have to make sure it gets power without the drop of a ballast resistor.