Cutout has 2 wires connected to it. One wire goes from Generator Armature post to cutout box, other wire to Ammmeter. Field wire on generator will be connected to the light switch.
Regulator has 3 or 4 wires. Armature post on generator to Armature terminal on Regulator. Field post on generator to field terminal on regulator. BAT terminal on regulator to Ammeter. If it has an L terminal on regulator it goes to Ignition/light switch. If no L terminal the switches receive power from post on ammeter that connects to BAT on regulator