'49 3600 261 SM420 12V Generator system

Recently replaced my points, condenser, coil and voltage regulator while chasing down some electrical gremlins hiding in old wiring. Excellent coaching from Bartamos made it an organized and straight forward process (prior thread here: https://www.stovebolt.com/ubbthread...d-ign-circuit-and-grounding-problem.html)

The truck still retains its 12V generator system and it charges just fine at idle. Running down the road though I noticed a faint electrical heat smell. Not all the way to 'smoke test' level, but enough that you want to go hunting for it. Popped the hood and sure enough the new voltage regulator was too hot to hold your hand on. Not too hot to touch, but too hot to stay touching. No buzzing noises (relays cutting in and out) or any other noticeable problems.

At idle it's cool all day long, and is charging. At road speeds it's heating up (ammeter does not show charge in excess of what it shows at idle). Is this a symptom of something? Or just the new part cooking its paint?

The new VR came from NAPA and is a generic Made-in-USA replacement for mid-50's Chevy's. It has no informative markings on it. Pic of the old VR and new VR attached.
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