One wire alternator nonsense

73 Duster. Going to a one wire alternator. Started digging into the wiring and found this:
View attachment 1715718997 View attachment 1715718997 Sorry for the double picture. You can see some whiz bang in gym shorts hacked into that plug. AFAICT, the only wire I need out of that mess is the yellow one that goes to the coil. I can’t find in the wiring diagram what the rest of the stuff is, except for the two field wires and the main alternator wire.

View attachment 1715718998 That’s the plug. Can I eliminate it?

View attachment 1715719000 The yellow wire nut is on the main wire from the alternator. That wire was BAD.

So...I need to know what to do with that plug, as in can I just eliminate it, or do I need to keep it? Also, I’m looking at the Mad electrical web page and they drill into the bulk head, but I can’t tell where I’d drill on this 73 bulkhead.

Any help is much appreciated.

YR
YR if that mess goes back to the voltage regulator you can eliminate it as you will not be using the VR anymore. Just run a heavy gauge wire from the alternator directly to the positive side of the battery. I always add a inline fuse that is close to or just under the rating of the alternator.
Make sure you have a good gound strap from the engine to the chassis.