I don't know if this will help or muddy the waters...I lifted it from
CHARGING SYSTEM MAINTENANCE | smallengineinformation.com
"TROUBLESHOOTING GUIDE TO 15/25 AMP CHARGING SYSTEMS
NOTE: zero ohmmeters on each scale to ensure accurate readings. Voltage tests should be made with engine running at 3,600 rpm without load. Battery must be fully charged.
PROBLEM 1: NO CHARGE TO BATTERY
TEST 1: trace B+ lead from rectifier-regulator to key switch, or other accessible connection. Disconnect it from switch or connection. Connect an ammeter from loose end of B+ lead to positive terminal of battery. Connect DC voltmeter from loose end of B+ lead to negative terminal of battery. With engine running at 3,600 rpm, read voltage on voltmeter.
If voltage is 13.8 volts or more, place a minimum load of 5 amps* on battery to reduce voltage. Observe ammeter.
*NOTE: turn on lights, if 60 watts or more. Or place a 2.5 ohm, 100 watt resistor across battery terminals.
CONCLUSION 1: if voltage is 13.8 to 14.7 and charge rate increases when load is applied, the charging system is okay and battery was fully charged.
If voltage is less than 13.8 or charge rate does not increase when load is applied, test stator (test 2, 3, and 4 below).
TEST 2:Remove connector from rectifier-regulator. With engine running at 3,600 rpm, measure AC voltage across stator leads using an AC voltmeter.
CONCLUSION 2: if voltage is 28 volts or more, stator is okay. Rectifier-regulator is faulty. Replace the rectifier-regulator.
If voltage is less than 28 volts, stator is probably faulty and should be replaced. Test stator further using an ohmmeter (tests 3 & 4 below).
TEST 3: with engine stopped, measure the resistance across stator leads using an ohmmeter.
CONCLUSION 3: if resistance is .064/0.2 ohms, stator is okay.
If resistance is infinite ohms, stator is open. Replace stator.
TEST 4: with engine stopped, measure the resistance from each stator lead to ground using an ohmmeter.
CONCLUSION 4: if resistance is infinite ohms (meaning that there is no continuity), the stator is okay (not shorted to ground).
If resistance (or continuity) is measured, the stator leads are shorted to ground. Replace stator.
PROBLEM 2: BATTERY CONTINUOUSLY CHARGES AT HIGH RATE
TEST 1: trace B+ lead from rectifier-regulator to key switch, or other accessible connection. Disconnect it from switch or connection. Connect an ammeter from loose end of B+ lead to positive terminal of battery. Connect DC voltmeter from loose end of B+ lead to negative terminal of battery. With engine running at 3,600 rpm, read voltage on voltmeter.
If voltage is 13.8 volts or more, place a minimum load of 5 amps* on battery to reduce voltage. Observe ammeter.
*NOTE: turn on lights, if 60 watts or more. Or place a 2.5 ohm, 100 watt resistor across battery terminals.
CONCLUSION 1: if voltage is 14.7 volts or less, the charging system is okay. The battery is unable to hold charge. Service battery or replace as necessary.
If voltage is more than 14.7 volts, the rectifier-regulator is faulty. Replace rectifier-regulator."
Did you check the glow plug relay? It's located up in front of the radiator.