454 BB in a 68 - "single wire 60 amp alt)
I am ready to replace my alternator and the local rod shop has a chrome one. It has an internal regulator and I think I have an alternator and external regulator. The old alt has two wire connector with two parallel pins | | and the replacement (new one) has two pins in line -- --.

I think I found the regulator, a 2"x2"x2" unit on the drivers side next to the radiator attached to the front panel behind the grille.

Is there a way to tell what I have and if it has been bypassed?

2 x 2 would probably be the horn relay, the voltage regulator is more like 4 x 4
http://www.chevelles.com/techref/ftecref14.html


http://www.chevelles.com/showroom/data/500/voltage_regulator.JPG