I want to report what I found on mine, initial test battery 12.35 key switch on so running lights on, but headlight removed for testing. voltage at regulator connector (black wire 11.47v) so voltage drop of almost a volt. Key switch is getting about a 0.1v drop through it. mine is a replacement (keys were lost at some point) Inspected two wire red connector at battery, Terrible connection cut it and crimped on a new connector. then checked white ignition connector in headlight bucket. getting pretty good drop from that too, (from red input to black output when you turn the key) so removed and cleaned connectors. check for voltage drop at black connector, ok there, since it is just a piggyback splice there. Cleaned connector at Rectifier/regulator. Put everything back together. getting about a 0.4 - 0.5 voltage drop total now on black wire at the Regulator. So fired it up, meter on the battery. tested a few rpm ranges and anything above 1800 ish is steady at 14.72V
Thanks for starting this thread, I probably would have just left mine until the battery wire broke or the battery got fried.