Here is another of my alternate suggestions: You do not need to change things that do not need to be changed.
Yes, an alternator is a better choice if you have a lot of new accessories like an electric cooling fan and a sonic boom high-watt stereo.
A generator works fine in a stock Falcon. Keeping the stock generator will let you be able to watch the "GEN" light on your instrument panel flicker when you are idling at a red light. A pair of new generator brushes cost maybe $3.99 and can be bought at O'Reilly's auto parts.
Trivia: Generators make DC current. Alternators make make AC current and need a rectifier circuit to convert the AC to DC. Rectifier circuits could not be be inexpensively made until solid state electronics began to be mass manufactured. That did not happen until the first years if the 1960s.
The first American car to come with an alternator as standard equipment was the 1960 Chrysler Valiant. It became the Plymouth Valiant in 1961.
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