Alright Gentleman, I am back with a small update.
I did some work today:
1. Cleaned engine ground and strap (sorry for no pictures but it definitely needed it.)
2. Replaced all the fuses with the correct ones (for some reason my nonno decided to put the wrong ones in the wrong spot.)
3. I used contact cleaners to clean up most of the contacts leading to the fuse box and from the alternator.
4. Soldered the crack on the voltage regulator (see first post- last photo.). In the bottom left corner is a crack you can hardly see but in person it is quite distinguishable.
After I preformed these tasks I re-preformed all the testing again. Inserted the battery with a charge of 12.34V hooked up the cables and turned the car on. The voltage dropped to 12.15V (this is way better than around 11.34V previous) however it was still not enough. I preformed the engine rev to 4000rpm and the voltage went to 12.34V again. I then went to check the alternator voltage it was outputing as well as the voltage on the voltage regulator and rev up. Alternator was resting on idle with around 9V again then when I revved the engine again to 4000rpm my voltage went up to 10.5V. Other things I noticed was that the Generator light is working almost normally now- its off at idle but gradually will get a brighter red with more rpm. The car sounds a lot better, and some components work a little more smoothly and I hope that shows that maybe I am on the right path. I feel like I am getting closer to being able to cruise in this beautiful weather in Canada but I am not quite there yet. I still haven't cleaned the battery to body ground yet- I am sure it will help yet but I need to grab a wrench that will get into that awkward spot.
I also would love to provide a general thanks to all you who replied and provided me with the knowledge and "How-To's" to better my Alfa and my understanding around them. I am truly grateful for you all here and this wonderful forum and even though I will most likely never meet most of you I feel like I have joined a lovely family of Alfa Romeo enthusiasts such as myself.