It's a while ago I did it, and I am about a thousand miles away from my dear old bolt. Tiny actually led me through it about three years ago. Here is from memory: The voltage cutout is the first of three units inside the regulator, the one nearest the fender on the outside. You'll need the motor running at a fast idle, so the gen is kicking out enough voltage, then you use your voltmeter with the neg on ground and the pos on the gen terminal on the regulator. I have a newer regulator so I had to adjust it by bending a tong until I got the right voltage. The older model has a screw adjustment. The result will be a little different with the cover on the regulator, something to do with heat inside the unit I seem to have heard - so you will need to use a little trial and error.
Look at the link.
C'mon guys, any number of you know this process better than I do, so if I am off base with my descriptin here give Kip the right info!
Karl