Thanks for the heads up on a god ground set up guys. Today, I built a more sustantial ground wire from the reg/rect body to the neg side of the battery. I used 10 guage wire, really paid attention to a good solder at both ends. Fired it up and got the following results:
800rpm - 13.15volts
1500 rpm - 14.55volts
4000rpm - 14.75volts
4500rpm - 15.10volts
Still too high for my comfort. But the reduced resistance wire had a decent effect. I was looking at those giant 4 guage car wires they had, but they're too big for the battery connection. I really don't want any more than 14 volts at ANY rpm. I honestly don't know the spec range of this particular regulator.