Charging system road rage

UPDATE
Thanks for the help guys, especially tooljunkie (you Canadian guys ARE alright, lol). I printed out your instructions and went out to the car (after having to buy a new battery for VOM) and followed your instructions. It was odd as volts didn't rise so i reconnected that wire and checked the positive post on the alt and it was only putting out 1v. WTF? Unplugged regulator, same thing. felt leads at back of volt gauge in dash (with car off), nice n tight. I started the car again and moved the wires at the firewall connector. BINGO! Since the wires at the plug were in crap shape anyways and other wires had been hacked, spliced longer, etc, I had already decided to order a new harness this morning from classic industries. I am a happy old dude now!
I really just needed to sit back, chill and let my brain work through it.
THANKS AGAIN!