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I am an electronics engineer and have designed regulated power supplies using the 723 for many decades. I wanted to see voltage readings around the 723. The 723 is an old and reliable device.
I think this will be a simple problem to resolve. Why do you not first measure the voltage directly across the 0.56 ohm resistor as this will indicate the current from the +5v supply and immediately identify if the 723 is going into current limit mode.
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