The blue wire feeds the resistor for the ignition . So any excessive draw would be from the ignition side. The regulator and alternator are fed on the same input side or supply side to the resistor. The charging system is not on the resistor side. The resistor will get hot and a new one may smoke until the coating wears off. Try a new condenser. I have seen many failures. Also make sure the distributor lead is not grounding out in the distributor attachment area or condenser lead. Also make sure the coil is for an external resistor.