Probably nothing wrong with the parts, rather the wiring
Several possibilities
Poor ground at the regulator can cause over voltage
Voltage drop in the ignition harness can cause over voltage.
Generally, problems in the bulkhead connector are getting worse as these cars get older
Start by reading this article which points out some of the pitfalls and problems of the bulkhead connector:
http://www.madelectrical.com/electricaltech/amp-gauges.shtml
Then, check a few things out.
FIRST, get your multimeter, set it for low DC volts, and turn the key to "run" with engine off. Stick one probe on the battery post, or the start relay battery stud. Stick the other probe onto the regulator IGN terminal. If you are running the original regulator, this is the "push on" terminal not the screw terminal.
You are hoping, here, for a very low reading, the LOWER the BETTER. Anything over .3V (three tenths of one volt) means you have a voltage drop problem.
The circuit path you are checking is battery -- fuse link -- through the bulkhhead-- through the ammeter -- to the in harness splice -- to the ignition switch connector -- through the switch -- back out the switch through the switch connector -- and back out the bulkhead connector on the DARK BLUE "ignition run" wire, which supplies the dash cluster, warning lights (oil, brake) and the ignition system and the regulator
If you see a drop here, your top suspects are the bulkhead connector, the ignition switch connector, and in rare cases ammeter connectors or the ammeter, or more rare, the "in harness splice" which is under the dash in the black ammeter lead
Next, check the regulator ground
Get the engine running at an RPM to simulate low to medium cruise. Since the voltage seems to be running high, check your battery voltage and drop the RPM as necessary to get the battery down to at least 15 or so.
Now, stick one meter probe directly onto the battery NEG post, and the other probe onto the regulator mounting flange. Be sure to "stab" through any chrome, paint, ruse. Again, you are hoping for a low reading, the lower the better, zero is perfect. Any reading here above .2V means you need to improve the ground between battery, body, regulator, and engine
Next with the engine still running, clip one probe onto the alternator output stud, the other to the battery POS post or the starter relay battery stud. If you see much over 1 volt here, it shows the charging line, through the bulkhead, and back out to the batter through the ammeter has poor connections, PROBABLY the bulkhead connector
Please refer to the simplified diagram down the page on the MAD article, which shows how this all ties together.
If the voltage drop tests do not show abnormalities, and charging voltage is still high, first take the battery and have it load tested, and look for bad cells
IF that seems OK replace the regulator
PLEASE buy a good one which are not cheap. Either Standard Motor Products VR-128, or Echlin/ NAPA VR1001. Neither looks like your old one, but they wire in the same.
Another route you could go, since you have a late isolated field alternator, is to add ONE new wire, and use a 70/ later regulator.