Help with diagnosis

Alright - for anyone still playing along... I pulled the Alt this afternoon and it looks to be a stock single field. What threw me for a loop however is here in the 2nd pic. There is a 3rd wire wrapped up in the harness to the alt. It's tan (pink?) but doesn't show up in my service manual as anything but 2 wires going to the alt. I haven't been able to trace it back (yet). It's all rusted and corroded, so I'm not sure what if anything it hooks to. Maybe this is an aftermarket harness setup for dual field? Anyway, I'm going to take the alt up to a local rebuilder to have them diagnose whether or not it's dying.
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For the final installment...
I pulled the alt and took it up to Taylor Auto Electric. Great guys up there, they literally stopped what they were working on to help me out. Brushes were worn down and the bearings were shot. The pulley actually wasn't spinning true - there was a wobble in it. So I broke down and bought a reman 60amp unit. Bolted it on and tightened up the belts and now have a steady 13.5 at idle with all my accessories on.

Finally sorted out, and I even made it to the local classic car meetup last night.

I appreciate the help you guys.
 
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