Dennis;

I agree with Derek...the symptoms you describe point more so to an intermittent Fuse1.

Remember, AMP Indicator coming ON is an indication or two very different things:

1. Charging Sytem not putting out...OR
2. Open Fuse1

...unless you have done some other troubleshooting, which you have not mentioned, to confirm your symptoms are caused by No.1, you may have started down the wrong path...not that some PM on the gen is a problem, but the first thing you should do when AMP Indicator comes ON (because it is the simpler thing) is clean and refurb your Fuse1 connections...but now that you're already in the generator, I'd just clean up the commutator, check the brush height (worn brushes are often THE cause of no charging system output), and reinstall (polarizing is not necessary...housing will "remember" the magnetism).

See also: http://www.sw-em.com/AMP_Indicator_ON.htm

Good Hunting

PS: ...and I am glad to see that you are using a zink grease product for your electrical work and not the typical "dielectric grease". See: http://www.sw-em.com/anti_corrosive_paste.htm