[Lynn Eades]

Hi Dale, It does that,but it also tells you that the generator is charging when the light goes out.
When you rebuilt the dash, you would have noticed that the ign. light assembly is insulated from the dash panel. It also has a wire connected to a large metal ring. One wire comes from the generator and the other from the battery (via the ign. switch) Current flows when the key is switched on, lighting the light. When the engine is running current flows from the generator to the battery.
The current is then coming (approximately) equally to the bulb from two directions. The light then goes out. (opposed equal voltages = no flow)
If (while the engine is running) the light comes on, pulses or glows dimly, you have charging issues. (generally speaking)