The drawing you have will work. It is a 3 wire alternator effectively hooked up as a 1 wire alternator with an "ALT" light on the dash. A 1 wire alternator has an internal connection duplicating the wire you have connected to terminal #2. The #2 wire connects output voltage of the alternator to the internal voltage regulator. If you are not afraid of running one more wire, you could get a better operating system by removing the terminal #2 and replacing it with a wire that runs from #2 to common voltage distribution point back under the dash. That way the voltage regulator will be seeing the distribution voltage in the truck, which could easily be 1/2 volt (or more) less than the output from the big stud on the alternator. This is the way Delco designed the system to work. For more technical info about this click here.But like I said, the system as you drew it will work.
'57 GMC 102, Original 347 V8, HydraMatic, 3.08 rear gear, added A/C, disk front brakes, HEI, AFB carb, '98 Honda Black Currant paint. T-boned and totaled 10/12
'52 GMC 152 Stake Bed, Original 228, SM420, added A/C, HEI, disk front brakes, '67 Chev 3.55 rear gear. Gets used as a real truck.
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