If I read your post correctly you say instantly dead, so I run the machine and turn it off and bingo, battery is dead. That is not a phantom draw of power. So forget about the test light between the battery and neg. terminal, it will not help. I would suggest you fully charge the battery with a AC plug in charger and then test it with a carbon pile tester putting 50% CCA on it for 15 seconds and reading the voltage temp compensated. Or the best you can, preferable with a tester that puts a significant load on the battery. Then reinstall the battery and measure the voltage across it with DVM, should be around 12.6V. Start the machine, run it fast idle and check voltage again. Should be 14V or a tad over. Measure voltage at the large wire at the alternator. Should be the same. How many wires going to the alternator? (Not including ground). One or three. If one wire its self exciting, but needs to be rev'ed a bit after starting to get it to kick in. If 3 wires, then large is output, the other two are sense and excite. Both should have 12V (battery voltage) on them with key on (engine can be on or off, does not matter). But do not connect them to the wrong place on the alt. The sense always gets 12V, the excite only get 12V with key on. If excite gets 12V all the time it will run down the battery, alternator will be warm until battery is dead. Check the belt first however. If you have an external regulator you will need to look at a service manual.