First things first. Thanks to all that helped diagnos the situation.

It turns out that all wiring was A-OK and the alternator was faulty. It gets better. This alternator and three others off the shelf at the local autoparts store were bad also, they all read 3 or less volts out of the box.

Lesson - bench test it before you buy it if you have the opportunity. It amazing how many "problems" go away when things start working.