It's normal for a vented lead-acid battery to lose some electrolyte -- you
just don't want (especially) the tops of the plates to be exposed to
atmosphere.  What was the specific gravity of the cells before you added
water?  A fully charged battery will exhibit a SG of about 1.26 at 68°F,
which should equate to a terminal voltage of about 12.65V (one hour or more
after being charged).

A charging system should be capable of producing enough power (or X current
at Y voltage) to prevent draining the battery at the worst-case load
condition.  A voltage test by itself tells you only half the story.  A
measurement of the load current will tell you how much current the
alternator needs to produce. Low (ie idle) speeds are the toughest test of
an alternator's output current capability.

Bryan

Mike wrote:

Code 41 is alternator field circuit open or shorted and is the one and only
code my 1992 Dodge Dynasty 3.3 threw during the entire time it was running
from purchase at 180,000 miles till I spun a rod bearing at 252,000 miles.
IIRC it threw that code at roughly the same mileage as yours.  The fix was
to have a starter/alternator repair shop outside Unionville Missouri R&R the
brushes.  That particular alt is the Denso 90 amp model and I am now using
it as a redneck battery charger by making my own adjustable voltage
regulator and driving it with an electric motor via the crank pulley and 4
rib alternator serpentine belt off of a 1989 Plymouth Sundance 2.2.