The lowest setting possible on my multimeter, which is 200. However, the flywheel is undoubtedly the problem.
If that is 200 mv, it is not the correct setting. In my 45 years, I have never seen a bad FW. If the magnets have magnetisim, "that" is all that is required. Many magnets are epoxied to the FW and I have seen this adheisive fail where the magnets separate from the flywheel.