Smokey-Truck,
Unfortunately I'm running into a similar issue. I've got enough juice (about 11V+) to keep it running once she barks to life but enough attempts to crank it over and the battery is toast.
Bought the truck this past Saturday up in Utah. '51 3100 that was someone's non-committed project. At some point in life, a front clip from something (not sure what yet) was hacked in from the firewall forward. It was reputed to be a late 70's Chevelle but I have my doubts. Along with the suspension mod came a 305/350 package out of an '80 pickup (so the numbers say), hence the doubts. Hell, the curves were right and the bondo and cancer was minimal thus the buy. Gotta love a woman in black!
40 miles into my return home I stopped to fuel up and she wouldn't roll over. Well... a trip to the autozone in Mesquite Nevada for a new alternator and I was on my way.
400 miles later I rolled off at my exit about a mile from the house to smell burning electrical. Since he no one ever bothered to get the 6v gauges working again after the repower, the guy I bought the truck from had installed a little 3pack aftermarket gauge deal-e-o which read 10v. :-( Leaving A-Z's parking lot 5 hours earlier I was showing 13+. I knew I baked the regulator as she was still running.
A trip through the electrical under the hood revealed some interesting finds which were subsequently corrected.
Tonight I decided to return to autozone for a new alternator exercising my limited lifetime warranty... made it about 3 blocks this time before I BBQ'd another regulator.
Looking closely under the dash when I got home revealed more "interesting" finds. In light of this and what I've uncovered thusfar, this weekend has been dedicated to a complete rewire on a custom loom including the appropriate pieces to put the stock gauges back in operation. Everything copper is coming out! I'll post to the thread on the outcome. Phase 1 has begun.
As Doc Bob alluded to, make sure your regulator is working correctly. Unfortunately, my history with generators is a part of the dead brain cell clan. From the sounds of what you describe, I'd make sure the regulator is allowing current to flow and there's no wiring curiosities under the hood. Remember the rule, anytime insulation on a conductor looks like grandma's legs in pantyhose, replace it!