Dr. Doug......thanks for the regulator tune up info. I really don't think it's the regulator 'cause I changed out the reg with no change in the ammeter issue. This morning I'll try polarizing the generator and then run a separate ground. Altho, as previously stated, I cleaned all the reg ground mounting points back to bare metal.
And noooooooooo, the bouncing ammeter isn't normal. HA, I searched "ammeter" in the forum and actually read thru ALL 40 pages of ammeter related issues. Seems like you and I are the only people caring/noticing this.
Mr. Wrenchbender…..I kinda like the original look of a generator. And they DO work well. I don't think the problem is with the generator or the regulator.