Okay, I think I MAY have figured this out. It seems that 1/2 the write ups I read on the alternator conversion said the exciter lead was terminal #1 and the regulator was #2. The other 1/2 said the opposite. I believe I had a full time hot lead going to my field terminal instead of having ignition wire going to it. I guess if the field is active it will leak current.

So I reversed the two wires. The truck started, it appeared to charge, and it shut off. I did this a few times. I'll let you know if I get stranded somewhere but for now, those of you that have a battery leak and a 3 wire alternator may want to give this a shot.