While checking my charging system, I find that with a didgital meter I have 2.8 volts on the generator side of the cut out . Is this good? Should I have more, because on battery side I have 6.7 volts. Is this charging or am I missing something?
At what rpm? It could be normal to have just 2.8 volts from the generator at idle, but at higher rpms it should go higher so it opens the cut out and charges against the battery voltage, raising it slightly.
If it doesn't go much higher with the rpm there's something wrong inside the generator and it'll need some service.
I tested my generator output with a digital meter as well and got some wacky numbers. Then john Regan reminded me that with all the RFI coming from the magneto, it would cause problems with the accurate readings of digital meters. I borrowed a good analog one and the readings were well within normal then.
As Kevin points out, you are missing something. Cheap digital voltmeter are really messed up by all the RF coming out of the generator (and the coil) so use an analog (analogue) meter.
What problem is your charging system having that is causing you to be checking it? Does the ammeter show a charge at least part of the time while you are running? If your car is equipped with a Voltage Regulator rather than cutout then you will not be able to make any "sense" out of measurement of the generator post with any meter at all and that is OK because you can find out everything you need to know by measuring the OUTPUT side of the VR with an analog type meter. Don't start fixing something that isn't broke.