I have a mk2 starter motor here in Oxford.
To test the alternator, just turn the engine on and put your multimeter probes across the battery like you did with the engine off. I think the voltage regulator should limit the voltage to about 14.3v, any more than that and your battery will fry!
If you're lucky your voltage regulator on the alternator will be cheap. Mine was a lucas (i think) and the cheapest i could find was 30 quid for a new one. Other makes are cheaper though, as i found.
