Cutting to the chase. You asked for advice, not a lot of opinions why not to do it. So here:
1. Yes they make alternators that look like generators from outside appearance. Or you can get a conventional alternator. But you'll have to convert to 12 volts. Check with one of the restoration websites on it, such as Speedway Motors...they're a good one.
2. Pertronix sells an excellent electronic ignition that converts your stock points distributor, for only about $75 bucks. Check with Summit Racing to order.