It's not the R2LC, most cheap voltmeters don't read non-sine waveforms all that accurately. I get the same numbers with a $10 voltmeter, but my 'scope shows me that the R2LC is behaving properly.
Drill out the intake hole, enlarge the stack hole as much as possible, replace the wick with the Lionel wick, and install a 20 ohm resistor. Make sure the resistor is from 1/8" to 3/16" spacing from the PCB, and it's close to, but not under the stack exhaust. Insure there's airflow from the fan chamber to the stack, and it should smoke great.
