I just went through this on my 3208's except they were going to other way and putting out too much voltage. After confirming the gauges were correct (follow jclark003's advice) it boiled down to the old Balmar ars-4 regulators on the firewall in front of the engines. They are known to cause issues after awhile. I changed them out to the newer ars-5's and everything is good now.
Sans Peur 2003 Tiara 50 Open
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