Bad Voltage Regulator?

[Perry, Christoper (EDS)]

Folks,
On my way to work this morning I notices the lights on my dash flickering.
I then looked at my voltage gauge and noticed that it was fluctuating
between 14 and 11.5 volts.  Upon further observation I noticed that when the
RPM's were above Idle the voltage would drop.  When at idle the voltage
would go back to a solid 14 volts.  To me this sounds like a voltage
regulator going south.  Does this sound accurate or has anyone seen this
before?

Thanks,
Chris Perry 89 90q