There's several possibilities
Turn the key to run, engine off. Hook your voltmeter, one probe to the battery positive, other probe to the blue wire on the alternator. You are looking for a VERY low reading, the lower the better. Over 1/2 volt is way too much, and it should be less
Im getting .8volts when running this test, The other test seemed inconclusive, the meter was jumping all over the place, mostly in the negitives.
What do i do now?
OK, .8V is WAY too much, and indicates a drop problem in the harness. Your no1 and no2 suspects are the bulkhead connector, the connector on the ignition switch, next after those two the switch itself, and last, a problem in the ammeter circuit (Bad connections at the ammeter.
(The "voltage drop" path is from the battery--fuse link--through the bulkhead--to the ammeter circuit--to the ignition switch connector--through the switch--back out the ignition switch connector--back out the bulkhead connector--to the ballast resistor/ and the IGN terminal of the regulator)
To "get around" the ground checking problem with your meter, try this instead:
Make up a temporary ground wire, at LEAST no10 wire, and connect directly from the battery neg. post to the regulator mounting frame.
Then run the car and see if the voltage goes down some.
IF IT DOES, then make ANOTHER temporary bypass (just for testing) for the "hot side" Make up another jumper, can be 14 or larger wire, from the battery positive to the "key" side of the coil resistor, or hook right to the regulator. "Tee" this into the regulator IGN terminal, and be aware the ignition will be getting power all the time.
Now run the engine again and see if the charge voltage has gone down to somewhere around 13.8-14.5
IF NEITHER of these jumpers make much difference in the charge voltage, change the regulator.
(You are running a front mount battery? The battery is grounded to the engine block?)