Bulk, by standard definitions, is not voltage limited it is the constant current
stage of charging. Bulk ends when you hit absorption voltage. Still, this has not stopped the marketing
guru's at companies like Balmar
from confusing everyone and having "bulk voltage" settings on their regulators. The reality is that they have two absorption stages not a "bulk" voltage.
Bulk is not a voltage limited stage it is current
limited... You only enter voltage limiting when you hit absorption.
Trojan batts do much better with higher acceptance voltages. 14.6V to 14.8V will yield faster charging and also help to minimize sulfation. You will use more water
but in my experience the batts tend to be healthier for longer...