Two options. Either the alternator is bad (voltage reg), or the computer is no good. Turn the head lights on (at night). If thy flicker, like high beams, then the computer is fried. C.E.
Yes, it can ruin the battery by overcharging it. If you are reading between 13.5 to 15.5 volts at the battery with the engine idling then more than likely the alternator is good and you battery has a dead cell. A fully charged battery will read 12.6 volts with the engine not running.
unstable idling and battery indicator lights on.
Cleaning the battery terminals had nothing to do with the engine not idling properly. Just a coincidence.
13.5 to 15.5 volts with the engine idling.
Yes, as long as the charging system is is good working order.
The charging system is not working. You need to take it to a shop and have it tested.
Hot, idling in drive, 20 lbs.
You can add engine wear but the reading on the odometer will not change since the sensor for the odometer is located at the output end of the transmission or transaxle, and therefore only gives a reading when the vehicle is moving (or when the wheels are spinning, if you are on ice or up on a hoist). So, no, you will not add mileage by idling.
A low oil pressure reading when idling for a 1986 Fiero is normal. As long as the oil pressure goes back to normal when the car is being driven, there should be no problem. If it is not, then the oil pressure sensor or the oil sending unit should be looked at.
If the regulator is bad, the alternator would have a low charge or a high charge or no charge at all. With a good battery that is fully charged (12.68 volts) and the engine warmed up and idling with no accessories on, you should get a voltage reading at the battery of 14.2 v (plus or minus .2 v).
As long as your car engine is running, it should be OK. An exhausted battery will only become a problem when you try to start the car.
Unless the battery is shorted or sulfated and will not take or hold a charge, most likely the alternator is bad