Thanks again for all the replies. Another update. There are 6 leads going into/out-of the rectifier/regulator. 2 lines in from alternator. 1 out to battery. 1 out to a safety relay that is diode protected to ensure current does not flow in reverse to reg/rect, 1 gnd, and 1 to a discharge light which indicates charging system failure. I made 6 test leads - connectors on both ends with exposed wire in the middle. I took measurements. In summary it looks NORMAL. Under load there is 15v AC across those alternator leads. Again, this is while plugged into the reg/rect and under load. Unplugged from rec/rect, there is 20-50v AC. The discharge circuit seems fine - nothing there to really care about anyway. With the switch ON, the rect/reg closes that circuit and the light comes on. Once running, it goes off. There is "battery voltage" on the lead to the battery, and with the switch on, there is "battery voltage" to the safety relay (indicating the relay is closed as it should be). I have a Harbor Freight multitester with the clamp on current loop. There is about 20-23 amps in the AC circuit to the rect/reg and (but not sure this multitest measures DC current) about 9-10 amps in the lead out to the battery.
All in all -- it SEEMS TO BE WORKING NOW! I see a slight voltage increase on that lead to the battery when the engine is running, about 12.5 to 13.5 volts. With engine off and key off, the battery voltage is just under 12v (I put it on the charger a night ago). But I do detect a slight increase in voltage (at the rect/reg) now that would seem to suggest I'm getting charging current.
It was pretty dusty in there.. the rect/reg was plugged full of dirt. I took the airhose to the whole area and cleaned it out. Also, I've disconnected and reconnected just about all the diodes, relays, connectors, etc that I can find (in hopes of clearing up any bad connections).
I did notice, this eve, with the switch ON, and engine not running, a relay clicking.. as if it was not making good contact. My guess, it's the saftety relay. So I pulled those connectors off and plugged then in/out several times. It's not clicking anymore. Perhaps that is the culprit. But I'm skeptical. I've left her "open" for now.. I'll take a few more readings when it's light out again.