Thats where I was going when I suggested the new wire from the alt to the fuse. Except I was taking it one piece at a time. That is telling us that somewhere in the wiring between the battery and the alt you have a problem. Either a bad connection or a bad wire. There are only 3 things between the battery and the alt. A cable from the battery and the 175 amp fuse, the fuse itself, and a cable from the fuse to the alt. Somewhere in there lies your problem.
Edit: Sorry about that koda. I guess you type a little faster than me. lol
Ok negative battery to body of alternator back to 12.4v.
okay, great! so we know the alternator works and that there is some kind of problem with the B+ wire's path back to the battery. by using the positive jumper cable what we did was to bypass all the stuff (connectors, wires, fuses) between the alt and the battery. go back to the wiring diagram and check each component one at a time until you figure out where the failure is.
edit: don't forget to check the yellow/white wire at the alternator