3600 RPM using a Fluke (most likely is True RMS),,, 45 volts sounds awful low to me. It could be from weak magnets.
Back in 1984, magnet technology was not what it is today. If those magnets are 25 years old, I would not be surprised if they were weak. Weak magnets would result in low voltage.
**The 60 volt spec you quote,,, is it from a 1984 manual.**
Was the associated regulator to this bike found to be shorted.