AWOL voltage regulator.
AJ/FormS. Yup, I know a VR when I see one. I didn't think to look under the dash though. I'll take a look. But, I think there is not one. My car hadn't been on the road for 15 years when I bought it. It didn't run. I've got a new carb etc on it now and it runs good, for about 10 minutes, then turns off like somebody turned off the key. I'm sure it's a bad ground situation with the balast resistor or just a bad coil. But, the wiring is such a mess I'm ditching all that and going with a GM HEI. I am going to check the voltage off the alt like you suggest. That seems like a good idea.