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I rebuilt an alternator that had died once and it started doing that. I had actually replaced the regulator in my old alternator. I think I fried it when soldering it on. Ended up getting a refurinshed one and it worked. It did exactly what your is doing too, voltage goes up with the revs. Its possible your new alternator is bad. Is it a refurnished unit too? You have to be careful with those, some companies just change what they think has stopped working on them then resell it. For instance that one I got the bearings went within a year. Luckily it was still under warrentee.