Alternator 7122

[hpcgmc]

My 10 year old Kragen alternator is making clicking noises. The alternator says "autolite pro tech 7122" on it. If I could find the receipt, I'd return it to Kragen/O Reilly for a replacement, but cant find it. It looks like Napa has the same thing for about $40.00. Two questions:
1. if I just replace the 7122, which is externally regulated, should I also spend $20 to replace the external regulator?
2. should I upgrade to a newer, internally regulated, alternator? What are the plusses and minuses, what will it cost, and what alternator should I use?

The truck is pretty much stock, with 40 year old wiring, etc. It's got a 283 with stock distributor. All the electrical works decent. I'm slowly restoring the truck, but keeping it drivable while restoring it. I don't plan on replacing the wiring harness for a couple years and don't really want to mess with any wiring I don't have to right now.

Thanks for any ideas.

[BigRed76]

I've personally replaced just the alternator and left the old external voltage regulator in use with no issues because there was nothing wrong with the voltage regulator. I've also heard that the internally regulated alternators are more durable/reliable, but I can't vouch for that.
If you wanted to get an internally regulated alternator you'd have to get one for a mid 70's-up GM truck. I know for sure '76-up used the internal regulators, but I'm unsure about previous years. And you can get alternators with different amperage output based on the engine application.