I bought a 914 conversion and it is running a 1967 911 engine. As far as I know that relay board is still stock.

The G light comes on only once in awhile when the key is in the on position and stays on when the car is started. The battery charges to about 12.5v with 3.8 amps going through the ground and through the positive side as well.

I ordered a new 914 voltage regulator through pelican but am now wondering if i should have ordered one for the 911... Is there a difference?

It will probably not make any difference. The altenator is the question. Is it an early Bosch? The new regulators are screeneed.

not sure on the alternator and I have not pulled the fan shroud yet to see. i want to see if this fixes my problem first. Am I only supposed to see about 12.5v when the car is running or am I supposed to see more?

I did find a VR locally but it was not a Bosch and when I installed it the G light did what it was supposed to but my fuel pump did not run. So it is back to the one that runs the fuel pump unitl the new one comes in.

If the VR is working properly.. you should be reading 13.6-13.9 V.