Well yes LOL, but attention! Alt upgrade FIRST, then the bypass ( or parallel) path.
BELIEVE OR NOT, the alt upgrade helps out on that more than you think, and more than the new path itself... why?
Packard terminals are able to hold nicelly maybe around 30 amps, a bit more quite often if clean and tight
If you have a 35/45 amps stock alt ( which is likelly the rate for those ) will mean put out maybe 18/20 amps at iddle.
If our car requires 25/30 amps as a more less constant load being able to be handled by the packard terminals IF alt is able to source ( that never or barelly changes no matter the RPMs ) using regular devices, such as lights, brake light, Radio, Ignition, turning lights and maybe increased using Heater or AC ( due the blower ) and wipers, it means you have at iddle maybe around 10 amps deficiency. This load is given by the batt while alt is not able to source it geting Discharge.
So, you give gas, the alt will be able to source the max output, NOT JUST TO FEED the car load, but ALSO the batt load back, which will demand what it lost previouslly. That it means 45 amps through the terminals. These are still the same 25/30 amps to feed the car demand plus 10-15 the batt demand. THIS load is not good handled by the packard terminals
Just 15 amps will run through the amm showing Charge, but bulkhead black wire is getting 45.
If you upgrade the alt with an alt able to feed 40/45 amps iddiling the batt will never ( or barelly ) be sucked out, it means you'll never ( or barelly ) get charge reading, it means black wire at bulkhead will never ( or barelly ) will see more than 30 amps going throught. Remember, amperage is sucked out by the devices, never pushed in by the source. You can get 500 amps alt, but if car demands just 30 amps, the alt will never source more than that, just need to be sure your alt is able to source it.
So EVEN on stock paths, which is also great to upgrade just in case, a more efficient alt as an only upgrade is safer than just upgrade the charging paths.
Of course I'm talking about the basics. There are more involved on this, how big is your batt load reserve, how much you use the car and accesories, how is your driving stage ( city, highways )... I'm being just simple.
Ignition systems get also benefits of the alt upgrade, specially ECUs. How many of you guys have seen the ECUs backing stuff melt and stick to the firewalls or inner fenders? The heat is caused by the lack of power coming from the charging system.
So once again, alt first, then charging paths, even mostly of ppl thinks the opposite.
I think your bulkhead terminals are still useable, with just a good cleaning. Dunno if you want to replace the housing thought. Is still useable, but being those available I'd replace it.
Being stock system still somehow healthy, a 12 gauge parallel paths will be nice and enough without remove the stock ones. 10 gauge if you want to feel more comfortable.
An alt able to source around 45 amps iddling. Stock 80s alts are able to give that ( they are rated 78/80 amps ) and priced on $50-60 rate. I'm using one of those and is fine. I have though to myself the TufStuff 100 amps alt ( around $200 ) as a next upgrade which should be able to put closer to 50/55 iddling if needed ( living in a tropical country where when it rains the max speed wiper and AC uses to demand that ) but I can't afford it at this moment.
Stock 80s alts are A BIT wider housings ( couple of mm maybe ) due the wider stator and housing design even still looks stock. It can get some clearence deals with block depending on bracketing assembly. On my 74 with BB had to use a longer belt ( an inch or so ) and trim a bit the rear alt spacer.
And trust me, the ammeter will be quite in peace even they are rated as +/- 40 amps because will barelly read juice going and coming from batt.