Since the hot for the alternator field and voltage regulator is not coming from an ignition switched source in the top diagram, the relay serves the same function as the ignition switch. Ignition off no power to alt and regulator therefore no parasitic voltage loss. What this will do is take the voltage drop of the wiring harness out of the voltage sense loop and the voltage regulator will have a straight shot at seeing the voltage at the battery. Would give a more stable voltage for ignition and other accesorries that we tend to wire straight from the battery these days.