Try the following to isolate the problem;
With a volt meter.......
1) check battery voltage (not running) should be at least 12.6
2) start, check battery voltage again.
3) connect volt meter to altenator (+ to "bat" terminal, - to ground) should be about 13.8
4) now compare the two voltages @running, they should be about the same.
5) with the meter still connected to the battery, turn on lights, if regulator is working, battery voltage should stay about 12.7 to 12.75
6) do the same test with the lights with the meter connected to the alt. the voltage should increase. If not then you have a bad regulator or you have a bad diod in the altenator.
Most altenators rely on a little voltage to make voltage, this is done via an "exciter" wire from the regulator which gets its voltage from the key switch. Check to make sure the connection to the regulator is tight, un-plug it and plug it back in. (if it's seperate from alt.) If it's built in to the alt., some are adjustable. I hope this helps, if not disregard! /forums/images/graemlins/smirk.gif