I used the VR730 part from Auto-zone, because I learned on this thread that the case could be opened up and the circuit board extracted, vs some that have the case full of plastic potting. (One of my goals was to reduce weight)
When I hooked it up on the bench according to the OP's method (after first testing it with the method I have suggested) I saw wisps of smoke within seconds from the surface-mount resistors in series with the "I" terminal. When the reg detects a non-charging condition, it applies ground to this terminal in order to light the indicator. The resistance of the lamp limits the current to as safe level. No lamp=smoke.
You MUST ground the reg case (this should be the first connection made), and you have to add a wire from the A term straight to Batt+ (this wire actually carries the current to the field, which reduces the current though the ignition switch)
Go by the labels on the reg, not the order, as Ford used 2 different plugs.