The sense wire should be wired to the battery or fuse block close to the battery so the alternator can sense the voltage of the system. Lots of people/some systems just use a jumper to the pos terminal of the alt but that doesn't account for voltage drops. The excite wire is usually wired to the charge light and/or through a diode. Most good alternators can charge without that hooked up by self exciting the windings by spinning the alternator fast enough by blipping the throttle. Yea, might not be the best for the alt because you'll be full fielding it at high rpms but meh. You can't give the excite wire 'too much' voltage as it generates charging voltage on that wire when the field excites. The reason you use a lamp, diode, resistor, is to prevent back feeding of voltage to the system on key off. Then the alternator would be powering the vehicle through the excite wire and will smoke the regulator.
92 Nissan Pathfinder- 3 Link SAS, 4 link rear
02 Dodge 2500 QC LB 4x4, CTD daily.
Foreign Car Center