Stupid I know but I didn't disconnect the battery when removing the alternator and shorted it out.
When all was connected again I started the car and all seemed fine intill I switched off the ignition and then the Gen light came on, turned the ignition on and the light went out.
I started the car once again and increased the RPM to check voltage, all ok as charging at 14.5v. Switched the ignition off and Gen light now off, checked a couple of times and all ok.
That was last weekend, came to start the car today, totally flat, no lights no nothing. Got it jump started and checked charging voltage, at idle it was 13.5v but with increased RPM it went up to 16.7v, Gen light working as normal.
With the ignition off I connected an Amp meter in line and discovered a 1.5a draw which stopped if I unplugged the Alternator, also the Alternator got very hot, never noticed that before.
Had the Alternator rebuilt today and was told that if it still had a 1.5a draw I had probably knackered the Reg box so I got one of those as well.
End of the day with all this fitted it is still charging at 16.5v with a 1.5a draw when the ignition is off.
Tearing my hair out now and there aint much left.
Any ideas would be welcome
Car is a '63 Starfire
Thanks in advance

 

I have since tried a known good Alternator and still the same!!!
Have also tried bridging the two plug in wires straight to the regulator by-passing the wiring loom but still the same.
Have found that if red wire is removed from regulator currant draw stops, so plugged back in and unplugged warning light relay (next in line), still has current draw.
Am I going in the right direction, any help would be appreciated. Thanks

 

If you have a condenser on the reg try unplugging it.