called a local alt rebuild shop, they said it probably was not the alt. suggested I check all connections.
so, cleaned all contacts at regulator, ground, then went to the alt.
turns out the line that bolts to the rear of the alt was loose. (not the 3 prong plug)
cleaned and tightened all connections at alt then turned on car.
well, the light came on still and did not go out.
turned off the car, plugged in the new volt regulator and light went off.
not sure what happened but the light if off now and I will keep an eye on the voltage.
Matt
Austin Tx
66 230 sl - "white"
78 300 D - Blue
98 C230