The battery indicator on the dashboard is reading low. Measured battery output is accurate with the dashboard gauge. However, I noticed that when I start the car the battery is not charging (the voltage should go up to around 13 - 14 volts. I removed the positive battery lead while the engine is running and it immediately cut off. Is my alternator bad?

P.S. The low readings are with all accessories turned off.

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92 Camaro RS LO3, 5-spd, T-tops
Mechanics:
Open Air Element w/K&N Filter, Flowmaster 3" Cat-back Exhaust, Z28 Grille w/aftmkt fog lamps
Electronics:
Alpine 8030 Alarm System, Valentine One Radar Detector (How did I ever drive without one?), Pioneer DEH 7450 Head Unit w/6-pack CD changer, Pioneer DEQ 7600 Sound Processor, 2 Kenwood KAC-90 Amps powering 2 12" Pro Red subs and 4 Infiniti speakers.
NEXT UP: SLP 1 3/4" Headers/Y-pipe, Centerforce Dual Friction Clutch kit

 

Well, I guess I asked a silly question or nobody was able to give me an answer.

Anyway for the record, I narrowed the problem down to two things...the alternator or the voltage regulator. Since the regulator is built into the alternator I just installed a new one and my car runs fine.

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92 Camaro RS LO3, 5-spd, T-tops
Mechanics:
Open Air Element w/K&N Filter, Flowmaster 3" Cat-back Exhaust, Z28 Grille w/aftmkt fog lamps
Electronics:
Alpine 8030 Alarm System, Valentine One Radar Detector (How did I ever drive without one?), Pioneer DEH 7450 Head Unit w/6-pack CD changer, Pioneer DEQ 7600 Sound Processor, 2 Kenwood KAC-90 Amps powering 2 12" Pro Red subs and 4 Infiniti speakers.
NEXT UP: SLP 1 3/4" Headers/Y-pipe, Centerforce Dual Friction Clutch kit

 

I'm glad to hear you solved your problem(s).

You stated "...removed the positive battery lead while the engine is running and it immediately cut off."

I don't know what "positive battery lead" you removed (the +12 alternator output via the stud at the rear of the case, or all cables attached to the battery positive post), but removing the battery from the circuit (as in removing the wire(s) attached to the positive or negative terminal) is dangerous, and is asking for problems.

The battery acts as a filter for the AC (alternating current) output of the alternator (an alternator puts out alternating, or AC current, a generator puts out direct, or DC current).

More importantly, removing a battery from the alternator output with the engine running will cause what is known as a "load dump", which is an energy surge. The alternator is generating power when, all of a sudden, with the removal of a battery, has no place to go, so an energy surge is formed. Think of a title wave, with all of the energy it contains, suddenly crashing into the beach.

The resultant overvoltage will contain significant transcients, with the actual amplitude dependent upon alternator speed and field excitation, but typically exceeds 100V. More important than voltage is the duration. More energy will be in a 100V 400msec surge than in a 600V 1msec surge.

Good electronic engineering in the automotive environment will contain protection devices to clamp this energy.

I've seen many people test the electrical system (alternator) by disconnecting the batter with the engine running. But it's your decision if you want to risk that these protection devices will do their job.

Furthermore, even though everything seems to be okay, it is possible that an electronic component (e.g. in the ECM) has been degraded by the surge, and, while working, will one day finally manfunction because of the surge.

Just FYI.