Eletrical problem

[JayBar]

Let me give you the background first. About 6 weeks ago I was doing an open track event. It was my first run and as I waited in the hot pits for the line to move onto the track I noticed my shift light was firring intermittently.
Now I was still at idle speed. One of my dash lights did come on, but at the time I did not know which one it was since they never come on. Turns out it was the alternator light, though at the time I did not notice the output on the Gage. I got almost to the end of the first lap and the car died. I had enough speed to coast into the pits. Once there I tried to re-start the car, and noticed smoke coming forum under the dash in the vicinity of the MSD box.

After a push to my pit area I looked around under the dash and could smell burned something, but there was no sign of anything burned. The car would not start and there was no spark.

I assumed the MSD box and replaced it a few weeks ago but never test drove the car until today. Well I got a block form home and my alt light came on, the voltage gage was pegged to the max, and I could smell something burning.

So I am thinking I got a bad regulator which I assume is inside the alternator.

Does anyone know how I can test the alternator/regulator in the car?
I know an auto supply house will bench test it but if I need a new one I thing I will buy one form a forum supplier.