12 volts is nice, but if you don't want an alternator a generator works well, that's all I ever had on mine. Probably will run an alternator next time, but won't be concerned with original looks either.
Depends on the use, driving around town is just fine with original gears/speed. It's when you want to take road trips that the faster gears would be nice.
For tires, also check into some 8R19.5 tires on obviously 19.5" wheels. That's what I ran on my 1 ton and really liked them, smooth ride, taller so faster too, and still tall and skinny looking which looks right. When I put the truck back together it'll get them again, already have the wheels and a couple tires on hand.
Grigg