On an SRCR generator that has sat for some time, corrosion on the rotor could be a problem, caused tracking and voltage stability problems. Of course most of those units were in the oil fields, not well protected (ok, not protected at all).
A quick megger test of the rotor at 250 VDC, should be above 10 megohms. a visual inspection, may sure the coating is sound, not flaking, and that the slip rings don't have huge pits if it sat in one position and the brushes got moisture under them and corroded the slip rings.
The regulators were tough and reliable, but no parts availability for a long time now, some items are still available, but not usually what you need. Whenever I deal with one of these units these days I just buy an aftermarket regulator, if time is not an issue you may be able to get it working with what is there. Not likely your CAT dealer can help, unless you're near the oil patch, last dealer guy I knew of who was commfortable with them was in Midland.
That vintage unit would have minimum electric controls, if it has an overspeed/crank terminate switch it will be the Synchro Start centrifigul switch type, unless it got retrofitted.
At that output I'm guessing a D333 is the prime mover?
Mike L.