Also mounted on the firewall is the voltage regulator,one green wire in from the alternator and one blue wire out to my ht coil positive?is that correct?it
no that is NOT correct.
The Dark blue wire is the Run wire from the Ignition switch.
If you have a points Distributor, it should be powered from a ballast resistor mounted on the Firewall. That resistor should be powered by the Blue wire from the Ignition switch, and that very same blue wire should be connected to the regulator.
The way it is now, it appears that the coil is receiving battery voltage at all times. It will run like this until the points burn up. If you alternator starts sending out an A/C signal, IDK if the coil will continue to work.
