FOUND IT! I'm really not sure how this could have been a part of the initial problem, but perhaps high resistance was the issue. While moving some of the electrical fittings around, I twisted the lead that exits the alternator and goes to the red battery block. It sparked and burned my fingers. I shut the engine off, pulled that lead, and discovered that, upon pulling back a couple of inches of insulation, about 1/2 of the wire had corroded away. Short of measuring resistance at the terminals, I doubt if this would have ever been seen. Burning my fingers exposed the problem. I had a short battery cable in my toolbox that I was able to use in place of the corroded piece. Bingo, no lights, everything charging normally, and the voltmeter indicating the proper voltage.
Thank you to all of you for your much appreciated help. These forums have proven to be a boon to those of us who still enjoy working on our own vehicles.