On the standard 10 SI Delcotron alternator, that big red wire from the plug actually needs to be hooked up to the main harness wire that feeds everything, (it should have been in that 4 wire harness that came up the intake from the firewall harness?) it is the "sense" wire for system voltage. When you attach that wire to the output post on the alternator, you could be cheating the system out of the amperage needed to keep up with accessory loads. Some Olds, Cadillacs, Buicks, and other later (mid 80's up) GM cars with the big 12 SI alternator used that wire, in that manner, not sure if that regulator was a touch different, or if the load was sensed in a different manner.
Now the question is, and I'd need to refresh myself, whether when the output is wired to the battery, the sense wire to system load could keep the car running when the switch is turned off. ????