Classic/Antique Car Repair: Battery Overcharging, voltmeter, voltage regulator

Question
Hi again Brad,

Well, last Saturday (1/19) I wrote to you seeking assistance with my overcharging battery on my 64 Bonneville..  I thought I found the culprit (insufficient ignition ground), but I was mistaken. Just to give you a brief history, last month, smoke was emitting from my ignition switch.  I immediately located a new one, and installed it.  Shortly thereafter, I purchased a new battery. Then I noticed the overcharging( leaking battery).  I exchanged the battery hoping that it was defective, but the overcharging continued. Next, I installed a new voltage regulator. Still no luck.  I noticed that someone wrote "repaired" on the box that the NOS switch came in.  Now I am wondering if the "new" switch could be defective.  Could it be the alternator?  You mentioned checking voltage on # lead on the regulator. I don't see how I can do that if the lead is plugged into it. Is that the next step?  Will the results definitely point to the problem?
Any assistance will be GREATLY appreciated.

Vince

Answer
That is the next step. Use a needle to pierce the wire going to #3 connector and attach your voltmeter to the pin. With the engine running you should see the same voltage there that you see at the battery. If the voltage is lower it will tell the alternator to charge more.
Brad