Take alook at this:
http://bob_skelly.home.comcast.net/~bob_skelly/alternator_conversion/wiring_alternator1.html
Excerpt from above web site:
Some of the disadvantages associated with the 1-wire system are:
Less than optimal voltage levels at points downstream from the alternator;
The ignition warning light is omitted;
At startup, a slow-running engine will not be spinning fast enough to turn-on the alternator and the system will be discharging until the throttle is blipped and the engine revs higher than the alternator cut-in speed.
Higher cost than 3-wire equivalent
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