Originally Posted by Kodebuster

One other thing, the last time I took voltage readings across the Battery with the engine running, my voltmeter read in the area of 14.5 volts.

Your reading across the batt indicates a high 13v when running, which looks pretty darn close to average.

Is it possible that a slight difference as this is the culprit...???

I lean towards belt slip at high rev, but the regulator is a cheap easy project, so I would certainly go there if I ran out of tricks...