I currently have a similar problem with my regulator.
The gen light has come on with the engine off and key removed. After a rap on the regulator with the handle of a screwdriver, the light went off. Now and again the gen light comes on when the engine is running, but turns off when the engine is shut off. If I rap on the regulator when the engine is running, the light goes off. All of this happens about every three or four days, but does not act up in-between.
I purchased the regulator in March from Ames. I am going to give them a call and see if they will exchange or do anything. I am convinced the entire charging system is fine, just a bad regluator.
But perhaps you have a different issue with yours. All the connections on my regulator look fine, and I did not hear any relay clicks, but I admit I was not listening for something like that.
I used to be indecisive. Now I'm not sure. I feel like I am diagonally parked in a parallel universe. 1968 400 convertible (Scarlet) 1976 T/A - 455 LE (No Burt) 1976 T/A New baby, starting full restoration. 1968 350 - 4 speed 'vert - 400 clone (the Beast!) 1968 350 convertible - Wife's car now- 400 clone (Aleutian Blue) (Blue Angel) 2008 Durango - DD 2008 GXP - New one from NH is AWESOME! 2017 Durango Citadel - Modern is nice! HEMI is amazing! 1998 Silverado Z71 - Father-daughter project 1968 400 coupe - R/A clone (Blue Pearl) (sold) 1967 326 convertible - Sold 1980 T/A SE Bandit - Sold