Wow, Doc, that's a thorough suggestion! Every...single...time I've had problems, it has been the voltage regulator. If you're inexperienced and nervous about cracking an alternator apart in such detail, it might not hurt to go straight for the regulator and replace it. If it doesn't help your current troubles, I can guarantee it will prevent future problems.
Here is the back of the alternator (cover off) with the reg still attached:
And here is the regulator removed (four tiny screws hold it on):
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1990 5spd V6 Camry (Still kicking at 393,000km) 1991 Celica GTS -- Pappa needs a 3SGTE...and AWD for all this friggin' snow
Honda my A$$, you just can't kill a Yota...