> What's the general nature of secondary impedances on modulation transformers?
V/I of the 807 stage.
You got 430V. The meter reads to 150mA, which is an odd number, so is probably just a bit higher than normal running current. The Mazda Belvu 807 sheet on Frank's site shows (page 3) shows Class C telephony as 400V and 80mA. 400V/0.080A= 5,000 ohms. That's the secondary impedance.
What is the audio power stage made to do? RF power output is maybe 2/3rd of 807 DC input. 430V at 80mA is say 33W input, 22W output (sheet says 22.5W). The audio modulation power is half of that plus a margin, say 12W. It could run 6V6 but not (wisely) at 430V; safer to run 6L6 at 360V (rated max) and load lightly. A pair 6L6 at 360V makes over 20W in 6K. It could be working 6K load with ample over-modulation, or 10K load to get just the 12W and lower supply current.
The killer is that you do not have 5,000 ohm speakers. Also the 807 side in-effect works "single-ended", the iron is over-size to carry the DC. And if you abandon the 807, you got another 80mA of spare current to drop on the 6L6es, which would allow a much lower plate load and higher audio power. It could pull 5KCT or 4KCT and make 25W-35W. All of which suggests re-selling the modulation iron and dropping a Bassman OT in. The rest of a perfectly good audio path is in there.
One wild thought. Keep the 6L6es to mod-iron as stock. Re-wire the 807 as an SE audio power stage loaded in the mod-iron "secondary" (the impedance is correct-enough). Add another transformer (cheap P-P is fine) to convert the many-K impedances down to speaker impedance. Have separate controls for P-P stage and SE stage. One way is 10W SE, the other is 15W P-P. If you get polarity right, in the middle they combine for a SE/P-P rig. It won't make 25W without impedance re-tap, but it could be an interesting 15+W sound.