Last week I had the car running where it is sitting in the picture. My nephew was in the car and smelled something, I saw the voltage regulator was smoking. I replaced the regulator, both battery cables and starter today. I started it up and saw no smoke anywhere. It ran fine, it just has that weird intermittent slow cranking issue.
I actually pulled the mini starter that I had in the car and put in a stock one. I love the sound of the stock starters but forgot how close the terminals are to the exhaust pipe. I have a 340 manifold on the drivers side with a 2 1/4" pipe on it. There is about 1/4" to 5/16" of room from the big lug to the exhaust pipe. I swapped in the old starter just to have that classic sound but I may switch back to the mini just for wire clearance.