Senor Lincoln, realizing this forum is very old BUT I have a question. I followed your advice (thank you) on my '54 3600 (all original) and everything checked out as far as the generator and wiring. over 1/2 volt at the armature terminal on the generator, re-hook wiring up and there is a voltage increases as you rev the motor, check at the regulator as you suggested and it's the same, so the wiring must be fine... NOW what? Am I to assume it's the regulator at this point? Just for info, 3 years ago (and maybe 1,000 miles ago) I had the generator professionally rebuilt and put on a new regulator. Been working perfectly until the other nite. I flipped the headlights on and the gauge on the dash needled down and wouldn't climb back up even at high RPM's and my headlights were dim and didn't seem to 'brighten' as I revved the motor. Regulator?