So here's the break down of what else I found, and I'm not sure if all this stuff is relevant, but here goes:
There was an extra red wire coming off of the positive battery terminal, connected to nothing. I removed it.
There's a plastic-coated teal green wire with a blue stripe that has a male bullet connector, and it's connected to nothing either. It comes from the headlight in a group of wires that go to the ignitor.
There's a fabric-coated white wire with a blue candy-cane style stripe that looks like it comes from the stator, and it looks burnt.
When I plug the 15amp main fuse in, the red wire going to the reg/rect starts to smoke, and the whole reg/rect gets hot.
Anyone know what's going on? Any help is appreciated; local bike shop won't be able to help until next week, so I'm on my own until then. I will post some pictures tomorrow in the hopes that they will help diagnose the situation.
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