Ditto Lyle's Comment
We have the same system that Lyle has: 4ea golf carts and a start battery with a Balmar alternator and regulator although it's an older ARS-II model. I've used this system for 14 years now and it works really great. With regard to belts, though, be careful what you decide on. The larger the alternator, obviously, the greater the load on the belt. The consequence to high belt tension is greater loading on the alternator bearings. To low of a belt tension and it'll slip and this'll cause premature belt wear and overheating of the armature which won't be covered under warranty because this is abusive use.To minimize problems, either go with a double belt system or a smaller alternator with a single belt.The Balmar alternators are rated "Hot" where as the Hitachi is probably rated "cold". For your four-golf cart system I'm surprised the Hitachi isn't okay. If the output isn't what you like maybe the diodes are getting worn out - this will cause a reduction in output.