As far as the starter and generator are concerned you can leave the starter alone for now, worry about any upgrades etc. to it later. The generator is a little different. I dont see where you stated the year so If your using the generator out of the 40s and early 50s with the snap on cover band then the armature will need to be changed along with later model field coils and pole shoes as aftermarket never made a direct conversion for that coil. If your using the first series of closed "step down" case with no cover band then you swap out coils and armature. Of course you will need a 12 volt regulator to match. All this can be done and you still keep your original appearance. PM me if you need more info.
Ken