"spot on"
The only thing I can add is from experience: Don't try to ground the red exciter wire to the alternator frame itself. Two reasons.
One, John mentioned, it may not be grounded by the short wire between it and the motor mount bracket bolt, and two, the oxide formed on the aluminum case is pretty tough to penetrate for a reliable connection.
It is easiest to bring your own jumper wire and run it from the braided ground at the firewall and cam cover to the terminal on the exciter wire. For a car that old, suspect a break, if it is one, in the 8-pin gray connector above and behind the motor.
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Art Benstein near Baltimore
"I've learned more from my kids than they ever learned from me."
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