The high power generators on the 50's GM cars w/ac used a different regulator. It had a dual point system on the voltage side. It came with a warning "do not ground field circuit without disconnecting the field wire from the regulator or severe damage will result".
The standard regulator might work after adjustment but they must have had a reason for a more expensive reg.
An alternator system is much more reliable then the old generators. About half of my business back then was gen-reg. repair.
George
