I have a 1996 Mercury 150 HP model 150XL serial 0G337407 . Had intermittent problem of voltage jumping up to 16-17 volts, so I replaced the two (2) 815279-4 regulators with two Caltric e-bay units with the black ground wire. After that the voltage was solid at 14.1 volts running, but the tachometer was not reading correctly. It reads 1200 RPM at idle, when I can tell it's correctly running at the 700 idle I have it set to, when increasing RPM in neutral the tachometer climbs to 2000 and then just dies and goes to 0 . After engine RPM drops back it then goes back to 1200 at idle. I checked wiring connections multiple times, also the black ground regulator terminals are on one of the regulator mounting studs (same plate as the coil grounds). I switched the gray tach wire to the other regulator and the tach had the same exact error symptoms. I then put one of the old regulators back in. hooked tach to it and it worked perfectly. Looks like the Caltric units are giving incorrect signal... Any one ever heard of this.. almost sounds like a tachometer setting is needed, but the reg is supposed to be a direct replacement.
Here's a link http://www.ebay.com/itm/271170806219?_trksid=p2059210.m2749.l2649&ssPageName=STRK:MEBIDX:IT
Here's a link http://www.ebay.com/itm/271170806219?_trksid=p2059210.m2749.l2649&ssPageName=STRK:MEBIDX:IT