Flickering or pulstating Headlights
Depend on what you checked. From that one test, the problem could have been anywhere in the flow path before regulator wire.
The current flow path is battery to field, and battery to ignition trigger. Together they probably don't draw more than 3 amps.
If there was no voltage drop between battery positive and F+ or J, then the regulator wire is the most likely suspect. Could be either a short or a bad connection.
If there was the same 1.5 volt drop at F+ and J, then the problem could be at the bulkhead connections, the igntion switch, its connector, or the wires between them.
1.5 Volts is a big drop for a circuit flowing 2 or 3 amps. If you had the lights and fan on, and you saw 1.5 Volts I would not have been so surprised.
That should be your next test. Do a voltage drop check for resistance in the flow path for the lights, fan and wipers. If there is a problem, do the lights seperately to figure out if it is in the switch or not. Power for the lights doesn't go through the ignition switch.