Thank's everyone.

Duralite says that the regulator should read 5,06 V at 1 amp load. They also say that the 3W ignition (with blue dot / not the IIs) I have is rated for 6V.

I am now going to do a stand still and running test to measure no load and load voltage from the regulator.

However I really do not think this can be a regulator problem.

Kato