IMO....IF, you are using a MECHANICAL voltage regulator, its highly likely that the internal points are sticking closed, causing high alternator VOLTAGE and AMPERAGE (pinned at max charge, bright lights), then, when the sending voltage became high enough and long enough, the internal points would seperate, causing the alternators output to go to zero (dim lights and ammeter to show discharge). The fix, without re-wiring and using a 1970s isolated field alternator is to install a electronic regulator in place of the mechanical regulator.....they work very well. Just my opinion of course.....
Common with the mechanical point type.
Personally, my preference would be the anti-oxidative grease. Years ago,y I aquired some anti-oxidative grease (it was yellow in color made by Dow-Corning called No-Ox) that was used in the buss bar installations on 5 KV and 15 KV metal clad switch gear, to prevent corrosion yet promotes conductivity between bolted buss sections. Just a "little dab will do you"..... good on battery terminals as well...... just talking out loud.....
My 65 alt. only has 2 wires not 3 like the later ones. Sorry electrical is my serious weakness.
The TWO TERMINAL electronic regulator is a DIRECT REPLACEMENT for the mechanical regulator you have in service.....it even looks like the origional unit. I believe that NAPA and others, maybe O'Reilly's also and the internet or EBay has them for sale....approximately $20..... Take your old regulator with you when visit the parts stores.
I will write that down for future reference.
