I think you probably have two alternatives. Either replace the whole generator with a modern internally regulated alternator, or replace the electromechanical regulator box with something completely electronic.
If the generator itself is in reasonable condition, how about stripping out the internals of the electromechanical regulator box and fitting an electronic regulator inside? It could all then appear "original" on the outside so as not to offend the purists.
I have never attempted anything like this myself, but I can speculate on how it could be done.
The first step might be to fit a single large silicon alternator rectifier diode in series with the main generator output lead. That will prevent current back-flow through the armature when the engine is stopped or below generator cut in voltage. The diode will obviously require a suitably sized heat-sink.
A standard alternator regulator module should probably be able to regulate the generator field current, just as it did in the original alternator.
Power for the electronic regulator module should come from the armature through a second smaller silicon diode, and also from the original dash warning lamp.
Basically you just duplicate a standard original alternator circuit, but now the generator armature uses the commutator to create dc, whereas an alternator uses three phases and six diodes to do exactly the same thing.
I am sure it should work. Just check the generator field winding current is not significantly higher than the alternator field winding current, or at least not high enough to fry the regulator module. That should give you a pretty good temperature compensated charging voltage, and it should be a lot more reliable.