The PM regulator is the typical cause poor voltage regulation with the 10 and 14way 'pinch-fingers' terminals and LM terminals next in line.
In the case of a PM failure, the voltage regulator connection (solder joints) are the usually the culprit.
Narrowing it down even further, when the heat sink on the regulator becomes covered with road dirt and/or corroded, it loses thermal rejection capability.
The worst case situation is caused when the PM regulator has dirt covered/corroded heat sinks and no means of airflow (air-box breather tube or other) is being provided.
(see regulator reference pic)
If you open the PM and use oil or WD-40 on the BiWax rubberized coating, it will allow you to see the regulator pins and the solder joints.
Browned, dried, or cracked coating on the backside of the PM, in the area of the regulator OR connector areas, are tell-tale signs of poor connection and the resulting excessive heat.
Dig out the rubberized coating, re-solder the regulator and connector pins as needed, and correct the 'pinch-finger' terminals with a small paper clip or stick pin.
(Note: The round housing of the 10/14way terminals is not the contact area, as seen in the reference pic below, therefore squeezing the round portion of the terminal is an incorrect approach)
Re-seal any repaired solder joints with non-conductive sealant.
Hopefully this helps.