I have a few spare pickups lying around, which I decided to test with my multimeter.
A couple of Wilkinson P90s (new, I believe) gave me output ratings of 7.5 Ohms. Which sounded about right. A Wilki SC had a slightly lower output reading, but still above 5 Ohm. That suggests to me that my multi-meter is working properly, and I'm using it properly.
When I tested a Seymour Duncan SH1-N, the output reading was way down - around 2.5 - 3ohms. Does that mean that the p/up is bust in some way?