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Good news about the ignition switch. Not so good about the smoke. Thare is almost a certainty that it is the ammeter. Ford, in their wisdom fed most of the output of the alternator through the ammeter, although the 65's were not as bad as the 64's. Be very careful running the engine until you get it sorted out to some extent. You can remove the front of the gauge to get an idea if the problem is there.
Do you have any wiring schematics other than the Osborne? The ones in the back of the shop manual are a lot better.
Terry
64HT
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