A lot of those chinese regulator rectifiers are halfwave with a dead 4th pin (no different that just running a single diode off one leg of your light coil).
Quit fucking with the chinese shit and go buy a regulator from treats and a diode bridge from treatland or just buy the trailtech combo.
China shit is china shit. Leave it in the shit box.
Use caps if you're just running lights. If you plan on hooking a phone, gps or otherwise into your system run a battery. Low capacity AGM lead acids can be had for $15 from your local battery dealer.
Caps can be had for $6 from radio shack or allied electronics if you're feeling fancy. I've been running caps for over a year now with no adverse affect to the cap or reg/rect. (edited)