Just checked it with a multi-meter, the convenience outlet is outputting 60 Hz, but only 2V. The Hz meter on the generator is still all the way to left though. The convenience outlet breaker is not tripped either.
Also, I opened up the electrical side panel, and can smell that the burning smell was something electrical in there. I can’t find any burnt areas from a shortage in there though.
Also, not sure if this detail matters, but, all the symptoms are the same when running on the 120V mode and the 120/240 mode.
So, it seems like the engine is good, and that it is something with the electrical components?