When converting to a one wire alternator and running the wire straight to the battery what do you do about all the wires for the horns etc. that plug into the voltage regulator? What about the wire that runs into the firewall ?
The 1-wire will have a place to connect the light to if so desired. I'd recommend you connect it up. The Powermaster will come with directions or their web site should help. If not, call them. If it's not a Powermaster, then go to the source where you're getting it.
None of the other origional wiring will be needed with the swap. You can remove it or just tape it up.
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