Essentially yes.
Correct. Electricity flows through the windings on the rotor to create an electro-magnetic field.
Yes. The regulator in the photo is an transistorized replacement for the pre-70 points type regulator. Mopar Performance sold them for many years. Most I had lasted a reasonably long time. If it dies, the one sold by FBO (on Ebay) looks promising. That's what I currently have as a backup.