Over charging
OK does it have the 69/ earlier regulator or the 70/ later "flat" electronic regulator?
70/ later looks like this, has the triangular connector
Couple things to check. Make absolute CERTAIN the VR is grounded.
Turn key to "run" engine stopped. Put one meter probe as close electrically as you can get to the VR IGN terminal--likely the ballast "key side." Stab your remaining probe into the battery POS post. You should see very little reading, and if over .3V (3/10 of 1 volt) you need to look into it.
Run engine, measure battery post voltage to ground, and compare that to the key side of ballast running. If the ballast reading is about 14, EG, and the battery is way high, you have a harness voltage drop problem.
IF YOU HAVE the flat 70/ later VR, things get a bit more complicated. "One more wire"