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Definitely not common.
If you look at the graphs here, on the right side the voltage is rising very slowly with speed:
https://www.sp-dynamo.com/series8.html70 kph shouldn't be a problem - I've certainly done close to that many times on dynamo bikes, and I tend to keep the lights on all the time.
SP do do a special version of their dynamos for small wheels. I presume it has slightly less drag because they anticipate it spinning faster.
Can anyone confirm if this is a common problem? 70kph always seems to happen at some point in a bike tour. If there's a chance it'll blow the electric system, then I'd rather not have a dynamo fitted in the first place.