Well the bloke that looked at it when I broke down said it was 'most likely' the regulator. I see where you are coming from though. I think I might take a punt and just get a new one and see if it works. When revving the bike with the lights on the voltage was dropping down to 9! With ignition off it was 12.5 and with ignition on (engine not running) it was 12.4, but then dropped once it was started.
I've read that you can use regulators from different bikes as they are more reliable, namely a CBR. Is this the case? I know they are a different size so where can you put it? I don't mind resoldering the terminals, and the SV regulators seem to be overpriced compared to the CBR's regulators.
edit: - I just read your sig Sid, seems like I'm opening a can of worms here