Hi Madness,
the fact that you are getting exactly half of the output you should be, is interesting, but I'm not sure at the moment exactly what that means...
please confirm that 12VDC on field wiring gives 120VAC output
and check again the manual (that indicated this test ) with respect to model sub numbers etc you may have overlooked something.
Do you have terminals 3 and 4 on the SX460 linked or unlinked?