"Pulsing" voltage, RPM drop with load.

I checked an cleaned all battery and alt connections. The charging wiring is stock with the exception of the 10g wire I added from alt to starter relay. My battery was replaced a few years ago and I keep it on a maintainer in the winter. I have had this issue prior to the battery replacement. I'll go ahead and have a load test performed.

Dana...My volt meter does as you said. Ignition on shows about 11.5, drops to 11 with brake and alternating to 10.4v with turn signal. Key on run.