If you're checking the transformer voltage output, do so when under load, i.e. when the bulb is in the circuit.
On/off bulb cycling: I keep my enlarger bulb on for the whole session, using a card to block the light before and after the exposure, using a metronome to count the seconds. Before I pull the occulting card out of the light path, I put the red filter back in place. Useful only for b&w printing, of course.
Is there sufficient cooling air for the bulb? Good luck.