Alternator wiring
"There's actually 2 wires connected to the regulator spade. Does that sound right?"
Not originally
One of two spades, does not matter which, goes to switched 12V "run" ignition power
The remaining goes to green which goes to the VR. Then the VR power also goes to same place as the first spade, that is, 12V switched power
That switched 'run' power comes out of the bulkhead connector, and went originally to the ballast. Somewhere in that harness, it branched off and fed the alternator field, the VR power, and depending on year, some smog du-dads