Here is my tuppence worth on the subject.
The generator lamp has a parallel resistor/rectifier combination in series and all of this is connected across the following items starting at the G+ side of fuse 9:
fuse 9, terminal 4 on the cutout, the two series coils and contacts within the cut-out, terminal A of the cutout, terminals 2 & 3 of the genertor test switch, any of the busbar-to-fuse connections 1,2, 4-8 in the fuse box, and terminal BB to FL on the master switch.
A high resistance anywhere in this series circuit will produce the symptoms you describe. In rough order of probability the usual suspects would be:
the cutout contacts in the v/reg & cutout
fuse 9
the contacts between 3 and 2 of the generator test switch.
What appears to be happening is that, at idle RPM, the lamp is glowing because the battery voltage is higher than the generator output therefore there is a current flow from battery throught the resistor in the resistance/rectifier unit back through the generator. In other words normal operation.
As RPM increases the gen. voltage rises closer to the battery voltage therefore the lamp dims until finally extinguishing as the gen. and battery approach equal voltage.
As the RPM further increase the gen. voltage rises above the battery voltage and, at this point, the cut-out would normally close (extinguishing the light) and the gen. will charge the battery.
In this case however something is open circuit in the charging circuit listed above so that now the light is powered (via the recrtifier) by the forward voltag drop across whatever this item is.
Because you say that the lamp glimmers rather than comes on brightly at increased RPM, it looks like a voltage drop rather than an complete open circuit so the first place I woud check would be fuse 9 (and its holder) and the test switch. Both are accessible by opening the electrical panel. Also look for softened fuse clips on the bus-bar side of the fuses listed above. The bakelite panel can shrink which takes the tension off the copper rivets linking the fuse clips and busbar. As a result the copper clips anneal and soften which reduces their tesnion. This becomes a viscous circle and it all turns to worms.
Let me know how you get on and good luck!
Regards,
Dick Gower