Tim,
Here is some "early Ford" wiring system info for your regulator
I = Excitor (This is the wire that goes to the charge indicator "idiot light" Your Painless wiring set should have a wire labeled for this purpose)
A = Alternator/Battery connection wired to the "BAT" terminal of the Alternator and to your wire for Alt Power (It should not be directly hooked up to the battery side of the solenoid)
S = Field relay wired to the "S" terminal of the Alternator
F = Field coil relay wired to the "F" terminal of the Alternator
For more details here’s the Painless website technical page
http://www.painlesswiring.com/techtip1.htm
Good luck,
Mike “monster”