CHECK GUAGES LIGHT and BATTERY GUAGE BOTTOMED OUT

[werd]

I managed to remove the voltage regulator (PCM) from the testing.

Connect one end of a jumper wire to a good ground. Connect the other end of jumper wire to the generator field driver (-) terminal..
Connecting the jumper wire will remove the voltage regulator circuitry from the test.

So it turns out, it is a faulty alternator. There was no increase in voltage, even at high revs.
I'm very happy it wasn't the PCM

[Escapable]

Had this problem .. the field winding should have flagged a code (Field Winding Error) if the windings were the prob. As there are no codes stored, it's off to replacement diodes n bushes (rebuild).
The instruments blacking out and the "gages" going crazy are exact symptoms. I noticed that the H/lights would flicker as well.
A brief turn of the ign off/on cleared the dash for a short time but eventually the battery will die.

[Roler]

Your year has 5 ground points to check at regular intervals. Not only visual, but removed, cleaned and tightened up again:
Battery neg to chassis
Near coil
Behind dipstick
Rear of valvercover to firewall
Near PCM

If you want to check your alternator, there are some good videos on this, including how to measure output etc.
It's how I diagnosed my alternator eventually.