I will remove the brown wire from terminal 51 and also the black wire from terminal 67. These are from the Generator and put them together. Connect voltmeter from them to earth/engine when running to measure volts at fast tickover 1,000rpms. I should get minimum 15 volts.
If ok then the problem is the green wire feeding the ignition warning light on the dashboard.
Alan
Do
NOT connect the wires from the generator together (i.e. the above brown and black wires). Just disconnect them from the generator and cover their ends with electrical tape or similar.
I may not have made it clear, so to clarify, having disconnected these 2 wires, you then bridge the 2 terminals on the
generator with a piece of wire and connect a voltmeter between this bridge wire and earth to check the generator maximum output.
[Essentially what you're doing is feeding maximum (i.e. unregulated) power to the field windings from the output terminal to check the maximum output of the generator - the initial charging output to 'get things going' comes from residual magnetism within the generator.]
As you say, you should see 15 volts (some say 13.5v minimum) if the generator is ok. The workshop manual warns against running the engine faster than 1000 rpm if the output is too low, also ensure that the voltage isn't allowed to exceed 20 volts.
Re:- the charge warning light. I got it wrong

in my post#2 above - the charge warning light is not connected between terminal 67 on the regulator and EARTH... The warning light green wire I mentioned is connected to terminal 67 on the voltage regulator. This green wire goes to one side of the charge warning light in the speedometer, the other side of the light is connected to battery voltage (not earth!) - it's a sort of balancing act, as the generator voltage comes up towards battery voltage, the light dims and then goes out as generator voltage equals or exceeds battery voltage. If you check out the wiring diagram in the Owner's Manual, you'll see what I mean.
Also, given that the charge warning light is on, means that there is nothing wrong with the w/light (item no. 18 in the wiring diagram) in the speedometer, nor it's wiring and it isn't, iirc, fused - if it fails to go off as the engine speed is increased, it points to either the generator output is too low or the regulator is faulty.
I note you've already replaced the voltage with an electronic version.
I try to avoid using electronic stuff, they're very unforgiving if you make a mistake e.g. accidentally short something out, connect something incorrectly or while there's still another uncorrected fault in the circuit.
Of course you won't usually know if you've damaged the new unit so will assume it has to be ok since it's new and thus spend a lot of time looking for a fault elsewhere in the circuit.
I'm not saying you have actually damaged the new voltage regulator, just bear this possibility in mind if you can't find another obvious fault e.g. faulty brushes or other generator fault.
Re:- Brush wear? You mentioned the brushes seemed ok and were maybe 1/2 worn. Sometimes when the brushes wear down, the springs which push them against the commutator make contact with the metal brush holders, preventing them from pressing the brushes any further. This results in arcing, possible damage to the commutator and low or poor generator output.
Back when I worked on dynamo-type generators (40 or so years ago :chin: ), the most common problem, by far, was brush wear.
Iirc, Fiat used to recommend that these brushes were inspected and changed if necessary at c. 30,000 mile intervals to avoid problems.
Hth,
Al.