That's somebody's aftermarket clone of a Delco-Remy (NOT AC-DELCO) with some manufacturing shortcuts that are very obvious. I've never been able to see a few ohms of resistance across a set of points, no matter how closely I look. There is a specific checking procedure used to evaluate the performance of a regulator that only one person that I can remember on this forum has been willing to follow in the past 20-something years. He fixed the problem, BTW. The field current passes through both sets of spring-closed points, so a tiny bit of resistance on either one will keep the generator from charging. The regulator in the photo is adjusted by bending the lower spring anchor up and down GENTLY to change the voltage or current flow where they start to open and close. You cannot see the two spring-closed points operate- - - -they open a few thousandths of an inch and close again- - - -several times a second. I have monitored regulator point operation at times, with an oscilloscope.

There are two types of regulators for GM vehicles- - - -Delco-Remy, and "WRONG"!
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!