2.0 Alternator Problem

[tmeracz]

Just want a quick second opinion here:
Last Wednesday we had a quick downpour in LA which pretty well flooded my 2.0 since I had it parked outside, bad seals et al.
It wouldn't start on Thursday, but did start on Friday so I drove it the 15 miles to work.
I noticed that the red idiot light next to the brake sensor was lit, although it was dim and went out halfway through my trip. On the way home, it stayed lit and was brighter than it had been that morning but I noticed that if I revved the engine past 4k it would die out briefly, then light up again after a shift into 4th to maintain lower RPM during a straightaway.
About a block from home, it was all I could do to maintain idle at a red light, but I did manage to get it in the driveway and park. The car was backfiring and leaving a lovely trail of unburned fuel in the air (dark enough to see at night) and at least one of the cylinders was misfiring.
I did some reading that night and the behavior seems consistent with a dying alternator. I know the past history of this car and it seems the P.O. my uncle, changed his batteries more frequently than normal. I chalked this up to some wiring shorts in the harness due to the idiot who installed the 3rd party car alarm (now removed).
Since I'm driving the car, the headlights seem pretty dim to me, at least dimmer than I remember them being 10 years ago when this car was a daily driver. This is a hard one to call, since my other cars both have Halogen or HID's which are pretty blinding- but they just seem dimmer than they should be on this Porsche.
I pulled the battery and tested the voltage and it was low, so I have it charging up.
The relay board in the engine compartment is dry & I aired out the flooded driver's compartment, front boot and engine bay.
So what do you guys think?
Is this a grounding problem aggravated by moisture or a dying alternator? The car started today but didn't run too stellar. I pulled it into the garage and yanked the plugs & wires to air those out too, just to rule out any condensation in there that would cause a cylinder misfire.
My side markers aren't working either, but I guess I could live with that.

[Dave at Pelican Parts]

Charging system troubleshooting article:

http://www.pelicanparts.com/techarticles/914_alternator_troubleshoot/914_alternator_troubleshoot.htm

--DD

[914GT]

Check the alternator belt. May be old and worn, and if it got wet it's now slipping.