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Well….. Coolerman saved the day….. and there is a lot of embarrassment on my part too !!!!!The regulator fuse on a 1973 FJ40 is fuse 6 (Hazard fuse) not fuse 7 (Ignition) . It should be a Green/Red wire at the fuse panel. Inside the harness the White/Red wire is spliced to the Green/Red wire and goes out to the regulator three pin connector. See diagramView attachment 3614556
After being told and reading that the VR was powered by the Engine fuse that is where my attention was at. Once Coolerman advised it was in fact the fuse above the Engine fuse , I went out too investigate with my test light.
The #6 fuse test 12v has on the left side but no power on the right side. I looked at the fuse and it looked 100% so I decided to pull it out and the damn thing fell apart !!!!! WTH !!!!!!
I went and popped a new fuse it and now I got a fully functioning charging system !!!!
Thank to all who helped me get to the bottom of this… especially Coolerman…….pretty embarrassing it was this damn simple the whole time !!!!