OK. I took the alternator to Autozone and had it bench tested. Their analog volt meter read a steady 15.5 VDC, toward the high side of the green "OK" zone, which looked to be about 14-16 VDC.
I found that Alt # 2 is the blue wire, and it is jumpered to the BATT terminal on the Alternator. Alt # 1 (white wire) goes to the Alt.Excitor terminal of my new Painless fuse block.
atomarc, I'm with you, I think 16 VDC is too high and will damage my battery and maybe other things. I suppose it is possible that the voltage regulator begins to maalfunction when it gets hot.
I don't know what to try next.
