I just went through this last week with my super m. I rewired mine a year ago, everything was fine until a few days ago, and I developed an overcharge. Is the alternator a delco 10 si? Either way, check the voltage at the battery with an analog multitester, when its running. A digital meter bounces all over the place anytime you get near a running tractor thats this old. If its over 15 its too high, mine was 15.5. With a charged battery I think you should be around 14.2 volts on the battery posts.
Make sure the number 2 terminal on the alternator has good contact with either the "bat" post on the back of the alternator, or directly to the battery. The #2 terminal on the alternator senses the batterys voltage and tells the alternator to reduce its output. A bad connection/plug can create an overcharge. Run a jumper from the sense post #2 alternator terminal directly to the battery to eliminate the possibility of a bad connection at the alternator plug.
Your battery may be bad too, and that will cause it to boil over. Have it load tested, or swap it out with another one. It will cook itself quick, so don"t run it long.
Your ammeter should jump to the positive side right after startup, and within a minute or two settle back down to 0 or just above. My amp guage was bad, and it was pegging itself too. A new one cured it. There was a big difference in needle "play" or movement from the old one as compared to the new one. I could shake the old one (when it was off the tractor) and get the needle to move all over the place, but with the new one the needle stays dead on zero when I shook it. Mainly, just get a handheld tester and take a reading on the battery, otherwise you"ll be nickel and diming yourself. Also where did you get the alternator. Ive seen brand new ones fail.
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