Murdoc,
With your meter on the battery, is there a change in voltage from engine stop and engine running.
Unless this is a single wire alternator, the #1 wire (DA) needs power to get the charging process going. This would be the likely suspect barring the chance your new replacement was bum too.
With the system functioning as it should be, your meter on the battery should easily climb to a mid to high 13 volt reading. If the DA plug isn't tight in the frame, or there are broken wires, this won't happen.
Stuart
