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I have seen then crack, and water gets in them. That can let out the smoke.I have one off my other cali , its apart any way. I'm going to try that, same year 30 serial #'s apartAs Kiwi mentioned, it is common for the two yellow wires to fail at the bullet connector. When you replace it, make sure those are clean and tight.
Replace it with a Shindengen FH020AA but make sure you get a genuine one and not a fake.These will work with either a single phase 2 wire or a three phase 3 wire stator. Just use 2 of the 3 wires from the regulator connector.
Check out this web site and these videos. They sell and support the Shindengen regulators. It is not too difficult to install.I just hooked mine up to the stock wires but others say it is best to make your own dedicated circuit.http://www.roadstercycle.com/Roadstercycle.com%20Videos.htmhttp://www.roadstercycle.com/Here is another site that sells them.https://motoelectrix.com/collections/frontpage
thank you again antmanbee for the information. I'm going to order one . asap
Just thought I'd mention, I'm probably making a mountain out of a molehill, as others have replaced their series unit with a shunt and not reported a problem