Say, gunrunnerjohn, have you ever tried to repair these AC regulators? Do you happen to know which part most commonly fails?
I just took a closer look at the one that came in my loco, and suspect my problem was simply related to poor workmanship -- two of the wires were shorted together. And mine didn't work out of the box. See attached photo. I separated the wires but the unit still does not work -- but it got me thinking that it might be repairable -- although failure due to a short might blow a different part than failure due to heat.
Your thoughts appreciated.