Okay, so I ran a new 8 gauge power wire from the perko switch to the distribution stud of the fuse block. I also bought a Bus Bar and installed that below the fuse block. I likewise ran a new 8 gauge run from the battery to the bus bar. I put the perfect pass on it's own circuit and have it going through a relay so it's getting switched power. I gave it a ground to the bus bar. For the first time ever, I got over 12 volts on the PP voltage display with the engine off. From the battery to the PP voltage display, I have about 1/2 a volt loss. I think I can live with that. I'm not sure where PP was getting it's power, but it seems like it was getting it from somewhere that was WAY up by the top of the gauges. I'm thinking that it was just robbed off the power for one of the gauges.
I haven't replaced the ignition or the breaker, but I'm thinking I might do that eventually as preventative. We'll be taking the boat out tonight, so I'll be able to report back on how the PP functioned with the better voltage.