340 ignition problem?

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OK, now move on to the next possibility.

That is, that the field wiring circuit has a wiring problem, OR bad regulator.

FIRST remove the regulator, clean around the mounting on the firewall and regulator and re--mount with start washers. This is VERY important. Regulator MUST be grounded

Remove the regulator connector. "Work" it in/ out several times to scrub the connectors, and "feel" for tightness. Inspect the connector and regulator terminals for corrosion, damage.

Try it, see if it charges all hooked up proper.

If not, remove the regulator connector. Devise a way to jumper across the two terminals in the connector. Machine screws work

Now go to the alternator and this time remove the BLUE field wire and hook a clip lead to ground from that alternator terminal

Again, run the engine and see if it charges

If so, replace the regulator.
 
I also checked the voltage regulator connector and im reading same V as battery withint 1 V difference
 
i jumped the reg connector and grounded the blue terminal from the alternator and the battery was charging up to 14 and gets going, bad regulator? I made sure it was well grounded as well like you mentioned
 
I would CHECK the ground, and if good then replace

One way to do this is to Turn the key to "run" and stab your meter probe into the top of the battery NEG post. With the meter set to read low voltage, stab the second probe directly onto the metal mounting flange of the regulator. If you read higher than a couple of tenths of one volt (.2--.3V) it's not grounded well.

If this check is OK, replace the regulator

One last comment---either one of the clip lead jumper tests I outlined should result --with the engine revved up some -- to PEG the ammeter. If not the alternator is only partially working or the belt is slipping
 

Changed the regulator and battery is charging at 13.95 now so ill drive it next few days and give an update ! Thanks so much dart appreciate all your help!
 
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