Cheap rebuilds are just that... why did you replace the old one? Obviously something was wrong but what? I usually just throw new regulators or brushes on alts and off I go again.
I did that in the SD. I replaced it with a "Hella" brand reg and it lasted only 6-7 months for some reason. Went to a Borg-Warner, been in for three so far and working like a champ.
I'd check that pan gasket first, the torque spec is very low... 6ft-lbs I recall. Also reverse applies the most line pressure to the trans so that could explain the higher leak you're getting. The converter drain plug could be loose, crush washer needing replacment, etc. You have a few things to scope out.
