if I unplug the voltage regulator and ck the voltage it shows about a volt less than battery voltage running or not running on both wires, if I backprobe it it shows about a volt less than battery volt on the "I" wire
If the voltage at the voltage regulator ignition wire is only 14.5 volts when the alternator is putting out 15.5 volts then the regulator thinks the voltage is where is should be. To put it another way, when the engine is started the regulator increases the alternator output until it sees 14.5 volts. It does not see the alternator output is 15.5 volts because it is only seeing the 14.5 volts. You are losing 1 volt somewhere between the battery and the regulator.
Print out a wiring diagram of your car and trace the ignition wire on the regulator with a colored highlighter to see where it goes through the firewall, ignition switch, etc. to find the voltage drop.
Not to give you a hard time but that post is very hard to read. It made my eyes cross and my brain explode. I had to buy a new brain on ebay. Using capital letters, punctuation and paragraphs will make it much easier for people to understand the problem.
