1965 Dart Charging System Question

Aaron65 said
I checked the alternator stud with the engine running, and it held at about 0.2V above the battery.

So if the Alternator is running at 14.5 and the ignition feed at the ballast resistor is 14.0, that would be a 0.5 Volt drop.
And if the battery is 14.3 V at the same time, then .2 V is lost on the way to the main splice and .3 volts are lost on the way to the ballast resistor.
That's not bad. Some of that could be lost in the ground connections too. If you're curious about the drop in specific section of wire, place the voltmeter's positive lead on the output stud and the negative lead on whatever point you want to measure drop.

Aaron65 said
The ammeter reads just to the right of center when the engine is running; it stabilizes within a few seconds usually.

The ammeters are 40 amps to 40 amps, center zero. In other words, if the needle half way to the left side, 20 amps is going out. If its a quarter way to the right, then the battery is using 10 amps to charge.