The MyMopar wiring is a help, but they are not close to complete, and a few of them are flat incorrect.
Go over to this thread at FABO and download a free factory shop manual. I believe the 69 manual posted is "Dart/ Charger/ Coronet" but the wiring for Coronet is the same for Belvedere
The thread:
http://www.forabodiesonly.com/mopar/showthread.php?t=132309
You will have to scroll down because some of the first links posted are broken, and got fixed later in the thread. Link to the 69 manual:
http://www.abodyjoe.com/pictures/Mis...e manual.pdf
In your viewer, type page 8-1 for the electrical index
Diagrams start page 8-96
Your voltage problem is most likely due to VOLTAGE DROP in the ignition harness. The circuit path we are talking about here is outlined in the MAD article, scroll down the page and look at the simplified diagram:
http://www.madelectrical.com/
this article:
http://www.madelectrical.com/electricaltech/amp-gauges.shtml
The circuit starts at the BATTERY -- FUSE LINK -- BULKHEAD CONNECTOR -- AMMETER -- WELDED SPLICE -- not shown -- IGNITION SWITCH CONNECTOR -- through the SWITCH -- back out the SWITCH CONNECTOR -- out the BULKHEAD CONNECTOR (on the dark blue ignition run wire) -- and to the IGNITION, and REGULATOR IGN terminal.
Your top suspects for voltage drop are the
bulkhead connector, including the charging line, (black), battery feed (red) and ignition run (dark blue)
the ignition switch connector
the switch itself
in more rare cases, ammeter connections and the ammeter itself
in very rare cases the welded splice
I realize you have bypassed the ammeter, but did you FIX the bulkhead connector?
Now, to check the system for voltage drop problems, follow these steps
1---With your voltmeter set to low DC volts, hook one probe to the battery (starter relay stud) and the other probe to the regulator IGN terminal. Turn the key to "run" with engine off. You are hoping for a very low reading, the lower the better. More than .3V (three tenths of one volt) is too much and shows drop in the above described circuit
2--Check the ground path for the regulator. The blue regulators are VERY troublesome because you MUST be CERTAIN that you scrape the paint away from the mounting bolts, and use start washers, as well, of course, of having clean bolts and metal under the regulator
Start the car, get the battery "normal" if possible, and run the engine to simulate "medium cruise." Again, with the meter set on low DC, stick one probe on the battery NEG post, and the other on the regulator mounting flange. Be SURE to stab through any rust, chrome, or paint.
Again, you are hoping for a very low reading, and over .2--.3V means a poor ground
3-- With the engine still running and your meter set to measure battery voltage, see what the charging voltage actually is under these conditions. (Sounds like you already did that)
Here is how a typical harness drop like this works. On my 67, it originally had ONE VOLT!!!! of drop. The regulator uses the "ignition run" at the regulator IGN terminal for sensing. In my case, with a one volt drop, the regulator was correctly trying to charge the battery at 14V, but it SAW one volt LESS at the ignition terminal, so it ramped up alternator voltage until it "saw" 14V at the IGN terminal. BUT the one volt drop in the harness means that the BATTERY is now charging ONE VOLT higher -- at 15V!!!