Use "RaWarrior's" algorithm http://www.vmaxforum.net/showthread.php?t=19108 for electrical system trouble-shooting. I think it has been made a sticky, under 'electrical.'check the charging system
I had been using my bike since getting it back on the road late last year, and the charging system needed a battery & voltage regulator. I continued to use the bike, no issues w/the electrics. Then I swapped-on a set of Stage 7 carbs I had, & when the bike went back on the road, 'bad stator!' That was replaced & no issues. Assuming its not something like a wire break in the 3 output leads or a bad ground or + connection, sometimes, they just fail & need replacement.
Do the sticky steps to trouble-shoot your electrics, and put your mind at ease. My case, the originals lasted 20 years, but then needed replacement to work again.