Yes, that's the old "mechanical." So far as I know all replacements are actually electronic. I'm not sure there's a real advantage, either way, to a replacement for that, or convert to the new style.
Couple of things
Make CERTAIN the regulator is GROUNDED and make certain you don't have a voltage drop problem to the new one. You can easily check that after you get things installed and working.
With the engine running and warm (regulators are temp compensated) and with the battery "normalized" that is run enough to be fully charged, make these tests:
GROUND
For the ground test, make this first with all accessories off, and the engine running at a fast idle to simulate "low speed cruise."
Then make the same test again, with lights, heater, etc powered on
Set your meter for low DC volts. Stab one probe right into the top of the NEG battery post. Stab the other into the regulator mounting flange. Be sure to penetrate rust, chrome, paint. You are hoping for a very low reading, zero is perfect. More than .2V ---2/10 of one volt--- you have a grounding problem
POSITIVE
To check the positive side of things, start as above with engine running to simulate low cruise speed. Measure the battery voltage accurately and post it. You are looking for not less than 13.5, not more than 14.8 or so, and "optimum" is 13.8--14.2
If the voltage is higher, you need to check for harness voltage drop.
To do that access the "key" ignition run coming out of the bulkhead to the ballast resistor. The VR "IGN" terminal is the same point.
Hook one lead of your meter there, and the other stab into the top of the battery POS post. Once again, you are hoping for a very low reading. More than .3V means you have a drop problem somewhere in the harness---that is the circuit path from the battery to the VR