During some dramatic stop-start manoevring on a hill the other day, an unusual whine developed, coinciding with the blue light coming on. I got home, and took the alternator out.
There was a fair bit of carbon powder in there, and the brush that goes in the outer run (the one on the right in the photo) is quite worn but still in contact with the rotor.

examining the brushes on an alternator by Dru Marland, on Flickr
...I cleaned everything up and replaced them, and bench tested it - span alternator by hand, with meter across the output terminals. Utterly zero voltage. Is this an ex alternator, do you reckon?