Thanks to all who responded to my question regarding the Alternator 
and OXS lights. 

It turns out it was the voltage regulator. The regulator sits on the 
back of the alternator, replacement was an easy job. 

The hard part of the job was finding a dealer with one in stock, then
paying $56 for this small 'lectrical component. Sheesh, this price
seems like it is 5X higher than it should be. They know when they've
got you. :-(

Drew Jenkins  86 Syncro
djenkins@foxboro.com