I installed the new VR but it doesn't work either.
Maybe is something else.
So assuming you have the new regulator on..and unit is turned off..
There is a test you can do which will prove to you that the generator is capable of making voltage and being stable. That will put your mind at rest that the issue is the regulator.
If you unhook F+ and F- from the regulator then carefully attach the wires you pull off to a 12 volt battery. F+ to positive, F- to negative...That removes the regulator from the circuit and pushes 12vdc down into the generator. Leave wires connected and restart engine...voltage should shoot up to around 220 VDC and be stable...Basically the battery is taking the place of the regulator and exciting the field in the generator to make voltage.
When I do this test I use wires with an inline fuse as the car battery I have for the 12volts has way too many amps for safety if the wires ground out by accident....really recommend you use fuse or circuit breaker on battery wires.
If that does not work, the problem is in the generator, if it does work you have now flashed the field at the same time as proving it functional.
Reconnect F+ and F- and set the voltage and frequency to 208V and 60Hz..
Just be super careful not to accidently short out the battery when attaching to generator wiring...just remember to push the 12 voltage into the gen, not into the regulator
Poccur