Hello All! Got the alternator/battery situation resolved. Put in the new regualtor and starter relay and all was well. So as I am not exactly that mechanically "with it" I took the Ranchero in to B&R Automotive (25th Ave and McDowell in Phoenix) to get a tune up, etc. A month later I get it back. Here is what they discovered (and fixed)....
Rebuilt the carb
Replaced the Distributor advance springs
Replaced the Pertronix unit I had for a new one that wasnt f'd up
Replaced the Dizzy with a reman dizzy
Replaced the exhaust donut gasket cuz it was leaking
The Ranchero runs really well (in fact I havent felt it run like this ever so it feels kind of weird. Got it up to 70 on the Loop 101 coming home!
So now that the trans and motor problems are solved (fingers crossed) I can start working on appearance and other items, like new wheels and tires! Then I'll upgrade to a header and better exhaust and a 2 or 4 bbl carb.
B&R treated me well, I will go back there if I need them (I most likely will as I am just a novice when it comes to autos). OR I will buy the parts and pay them to install them so I know its done right! Either way, kudos to these guys. Oh, the reason it took so long (a month) was because when they solved one problem they went to the next and parts ordering and waiting and well you know how it is. They kept me posted for the whole thing.