I converted my 47 to an alternator last summer. I used the 1 wire unit, it also came with a smaller pulley on it. My car is still positive ground and I have it running through the original ammeter. I've been more than happy with it.
I would talk to the people who are going to grind the crank what they prefer you use for bearings. I would consider having the connecting rods re-sized if it was my engine.
When replacing the radius rod rubber does it make a difference if the jack stands are placed under the front axle or should they be under the frame rail?