May be a dumb question but may be the cure. Looking at the back of the Alt.the plug with the two wires going into it(one blue one black)which side has the blue,which side has the black? The wiring dia. shows blue(field wire) going to the ground side. Mine is not that way. Someone put a new plug on and I believe that the crimps are installed into the plug backwards.

i think you might have answered your own question.
i hope so, cause i sure dont know what to say.
i'd go look at mine and tell you the clip and wire configuration, but it's very far away. miles and miles.

I went out and looked at mine. The dark blue wire goes to the "F" side (right/passenger)and the black wire goes to the "R" (left/driver) side through that two wire connector at the alternator. I still have the original type separate regulator if that makes a difference.

Just for the heck of it, make sure they weren't also reversed at the regulator, so all is well except the colors. If someone made a mistake at the regulator, the quick solution might have been to change it at the alt. Wierd stuff happens.

Thanks Jim, just what I guessed. Cut off all the tape and the color coding of the wires is right I.E the black to black blue to blue but they are switched going into the alt. Pulled them out of the plug and switched them around and now get a strong magnetic pull off of the center of the alt. when running. (old school way of telling if it's pulling a field) but still get a Gen light on the dash even though it's putting out 14.7 volts. Thinking it may have cooked something being wired wrong. Back to the book and volt meter.