1994 voltage regulator qustions

I have a 1994 FE600 without battery, electric starter etc.

There is one yellow wire from the stator which connects to the yellow wire on the regulator. The regulator is a small cube with just a yellow and a black (frame ground) wire.

I get about 17 volts AC out of this without load.

1. Is this just a regulator with no rectifier?

2. Is 17 volts without load to much? Will it fry my front and rear lights? Or will the voltage drop when I load the regulator?

Yes - as I wrote, 17 volts AC with no load.

Tested under load today. It has about 12 volts on low idle (as low as the engine almost stalls). At normal idle it reads 17-18 volts. When revving the engine Inhadcat least 40 volts on the multimeter but I have no hold/track maximum function so it might have been even higher. So I guess this regulator is toast.

Do I go for a original replacement or aftermarket/generic?

If aftermarket, how do I connect? I only have the one wire from the stator? I guess the other side of the stator coil is connected to ground? So it's not possible to fit a regulator with rectifier without breaking the stator coil ground connection or possibly skip chassi ground for the DC side and use ground feed from rectifier to all accessories.

I don't need a rectifier but I can't seem to find any generic regulators without rectifier.