Can't say too much regarding your bypass method because I don't know how the whole truck is wired. But look at this recommendation for bypassing
ammeter. I think you are doing basically close to that. However this is not showing your style of alternator/regulator system. This is a one wire, internally regulated system.
Just use it as reference, nothing else.You said you have a diagram. You must have at least two. One for the original truck wiring with generator and one showing how to hook up an externally regulated alternator to a voltage regulator. Hope you have the correct info for that.
Here is what I have found:
1. Batt terminal on Alt thru fusible link to battery pos.
2. Batt terminal on Alt to VR no. 3
3. "R" terminal on Alt to VR no. 2
4. F terminal on Alt to VR F
5. VR 4 to coil pos or switched Ign.
After hooking it up this way, see what other wires are left that you were planning on going to the ammeter and place them elsewhere depending on what they are.
I now do not recommend using ammeter post as a terminal for ANY wires. I don't see any need for that at all. After you wire the list 1-5, any other left over "hot wires" probably have a switch to go to. Think about it. Check out what those 5 wires, you were talking about, are for. This is your chance to clean this up.
Not sure what your sensing wire/exciter wire is for. That sounds like internally regulated talk. Resistive wire, dash light/warning light talk.
Bottom line is when done: measure across battery, Approx: 12.4V-12.7V motor off.................. 13.5V-14.5V volts with motor running, medium high idle. Most of the charging is done at higher than idle RPMs.