I know that I have a 1" square rectifier on the side of my motor. I do have a "marine" starting battery and my accessories run directly off of additional terminals right on the battery post.
Clear as mud.....LOL With the termonals removed, the voltage will be higher. In order to charge the battery, the voltage need only to be higher than that of the battery. The battery will act as a load on the charging system and therefore the voltage read on my screen will remain lower than the advertised "charging" voltage. The 13+ volts would only be VOC .... voltage open circuit. By the fact that my voltage reads higher after the motor ran should be an indication of a charging system that is working.
I only ask these question sice I, like an idiot, connected the wires on the battery backwards for a mere 2 seconds and got a spark. I looked at my regulator and the potting in the center has a small crack. The potting is some sort of rubber or silicone that could have just dried out over the last 33 years, or could have been comprimised to let the smoke out. As we all know all electrical/electronics work on smoke, if you let it out, it quits working...LOL