Well over the long weekend I spent some time tearing into this problem (to the dismay of my wife). I replaced the wire from the +battery to BAT main circuit breaker. No luck. I drilled out the ignition cover and checked out the plate. Everything looks good, I don't think it has ever been opened. I tested and retested everything in the manual that I could. Grounds are good where they should be and resistance tests all come in within specs per the manual. I did find one corroded wire to the ignition (key) switch which I replaced and still no luck.
I talked to the Dealer about the problem and he said that there have been issues with the rotor breaking at the spindle and giving intermittent signals to the stator but I opened the inspection cover and everything is solid, tight, and smells right there. I am also getting a steady/regular reading from the stator with the volt meter. I thought it may be the ignition module acting funny with the higher voltage when the VR is plugged in but it too passes all the testing procedures outlined in the manual. I'm stumped.

 

Well I FINALLY got it and the correct answer was...ignition module! I replaced the module over the weekend and with fingers crossed hit start. No issues as described before and it ran just fine. I have not had time to test it at all, but it seems to be resolved.

Harley Cruiser, as the winner having the correct answer, I owe you a beer (or beverage of your choice) when I meet you.

I want to thank you all for your help and all the help that you provide for the community.