if it's been refreshed.. I' think, personally I'd get the tach working.. but that's just me.
if you can live without a tach.. then an alt can be had for about 45$.
rebuilding a generator can range from about 45$ on up to replacement cost depending on what is wrong.
if just bushing or bearing sand brushes.. it can be cheap.. like 45$.. if the comutator needs dressing, or there is other damage.. then it goes up......
so...
your call.
A lil finagling with the brackets usually makes an alt work.
alts charge better all around and at idle...
alts are not tolerant of mismatched polarities or dead battery jumpstarts.
generators charge poorly or not at all at idle, and max out 20-25 full tilt, but are quite fault tolerant.
if you add an alt, you will need to scab in or repurpose the existing wireing..
but neither are particularly hair pulling.
lube it.. see what it gets ya....