i have a 1986 irocz28 with a 305 tpi, last summer my alternator failed so i replaced it..although when i replaced it i had to take it apart and reposition it to fit into position under the hood. it is now less then a year later and i smelled burnt wires on my way home and noticed that my battery gauge was down. i tested the alternator and it was no good so i put a new one in and it still isnt working. did that burnt wire smell have something to do with this? could it be a problem with wiring somewhere other then at the alternator its self?

 

burnt wire smell usually means burnt wires...id check all the wires you can visually see for melting.

 

Check for a burned fusible link.