alternator trouble?

Came out of work today, started my Audi 90 2.8 and noticed it making a bad sound from the front. Sounded like I was dragging something metal, like a
muffler, but I wasn't, it was coming from the engine bay. Drove over to the repair shop I use and noticed along the way I had no blower or blinkers so I turned the radio off right away. Parked it and smelled a slight burning and when I opened the hood up there was some smoke coming from the bottom of the passenger side of the engine area. My guess is the bearing in the alternator siezing up? Amps were normal on the gauge though...any ideas?
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