I did the swap on my '40 Ford Kit......... Easy. The wiring diagram you posted is correct.
The only concern I had was properly splicing the heavy leads from the Alternator/Battery/Light Switch. I wanted to use a terminal block so the leads could be disconnected if needed.
After some thought and searching my shop for suitable materials I came up with this solution:
As you can see, the result is terminal block with a 1/4-20 brass post that allows the three red leads to be connected using standard ring wire connectors. This assembly is located under the rear seat where the regulator once lived.
Since the assembly needed to be fairly heavy and insulated from the body, I searched my garage and found the perfect solution...... a HOCKEY PUCK.
I found the brass bolt, nuts and washers in my plumbing materials. It is a toilet retaing bolt.
I cut, drilled and counter bored the puck to form the terminal block and mounted it in place with threaded inserts and brass screws.
I have a CAD drawing of the terminal block that shows a cross section of the assembly. I'll bring copies to the 1/5 meeting for anyone who is interested.