The problem was more than likely that you were running it at idle.
When you first start the set up, by moving the main switch to the start position you "flash" the generator field. This allows the generator to start producing power, from there out it is self excited, meaning it rectifies it's own power to feed the DC to the field. The voltage regulator "regulates" for a lack of a better term, the DC voltage to maintain the output voltage. I don't remember right off hand what the supplied voltage is exactly, but I think you are supplying 12 volts to the field to maintain the proper output voltage. By allowing the set to run at idle, you are not able to generate enough voltage to be rectified, meaning the voltage regulator has to draw harder on the bridge resistor to get the power it needs. You will be very lucky if you did not damage the voltage regulator as well.
I have a set that was like that when I picked it up from the base. Check very carefully around the board especially on the post of the 3 phase breaker nearest to the board...when I dug into the one I bought, the resistor has fried a terminal on the three phase breaker as well....I hope you don't have this problem.
It's a PITA to get to, but I say, pull the rectifier board, and repair it. The -34 TM shows the components needed. You may need a diode or two as well. Check it over really well. When you replace the board, after you start the set, get it up to 1800 RPM's right away and leave it there. That's the way these sets were designed to be run. Idling them is NOT GOOD!!!