sitting in traffic the other night and the battery light came on when a puff of smoke came from under the bonnet that smelt electrical - thet acrid burn electronics smell...

checked all the connections today, all fine, the battery is even charging at 13.8 volts when running and drops back to 12.5 when the engine stops - so its obviously charging, but the battery light stays on on the dash all the time.

any ideas? fooked diode pack on the alternator? or is it a new alternator job?