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Yes, that is the regulator. However, the surge when the battery was disconnected may well have damaged something else. I guess standard trouble shooting is the way to go now, see if you can find where the current is going. Pay attention to any filter/bypass capacitors as they can short when...
Considering it is never a good idea to disconnect a battery (or connect one) on a running alternator, I'm not terribly surprised something died. Possibly the regulator, in automotive style systems, that is usually what gets blown, by the surge of disconnect/reconnects.
Actually you check for shorted turns in a coil with a 'growler' not a megger. But that device is also not commonly found in must 'home' shops--usually only someone who is doing motor/generator work has one. It consists of a V shaped iron core with an electromagnet wound on it. The coil is...
If that is the specifications, then...
Two of these, wired in series (to get above the 75 volt specification) would work for a test if nothing else. 100µF 50V 20% Radial-lead Electrolytic Capacitor - RadioShack.com
Just watch the polarity when you wire them up.
I've also seen strange things with fuses that seemed good, and were not. I always try to test by replacing (was taught that in the military!) and not testing. Some people look at a fuse and say "it is good" as if a visual inspection tells them something--not a chance, I've seen so many that were...
A/C? Not DC? The only place (that I know of, but don't have one of this model) were there would be A/C is the stator output. If you had a defective stator diode(s), you might have A/C on the output, likely low current, and no charging. Have you checked the alternator's rectifiers to be sure...