I drove this litttle beast for the first time at night this past weekend. When I turned the lights on, this red light came on. I am sure it is a dumb yet easy question, but I have no idea what the light means.

Broken belt, fried alternator or voltage regulator.

Thank you sir. I guess I will just pull the gauge out and disconnect the idiot light. I have a V8 conversion so the alternator is not hooked up to the idiot light. I knew it was simple. Thanks again...much appreciated.

I'd check for a short. Maybe something that was modified during the conversion has come uncovered.

Do you have a SBC or LS conversion? If injected, it may be in the wire loom changes or ?

Its a SBC conversion. I figured out what I did. When I did the conversion, the Porsche wiring harness was all Greek to me. I rewired the car with GM colors so I would know what goes where, etc. I hooked up up that idiot light to the headlight switch so it comes on when I turn the headlights on. Everything is all good.

You should wire it back into the alternator. The light is nice to get your attension of a pending issue if your not watching your gauges.

I have a similar dash light question if you guys don't mind.
On the same gauge as shown in his pic what is the top light for?
Mine flashes and clicks like a blinker.

....Emergency brake is on or wire to button is shorted or something amiss with brakes in general

Or you have a brake warning light switch on the master cylinder that is activated.

Hello Dave...