To fit a crankshaft mounted alternator is a massive task, if it even can be done.
Firstly the current drive end shaft is not suitable for an alternator rotor and would need to be changed for the later shaft fitted in 1958/59 when alternators were used.
Second you would need to replace the primary chaincases for ones which would allow for mounting the alternator stator and fixing the stator.
Third you would need a clutch with built in cush drive.
No doubt lots more practical issues.
Many of us are using Lucas dynamos and magnetos without any problems - thye just need to be in good condition.
I used my A10 with magneto and dynamo (on 12 volts) for commuting to work - shift work in all winds and weathers over many years until retirement 4 years ago. No electrical problems. Bright lights.
You could replace the mag part of the magdyno with a modern self generating BTH unit
http://www.bt-h.biz/md1r--magdyno-single-cylinder-19-p.aspYou could use an Alton alternator with it.
These modern items cost around £1000 plus VAT.
Or you could just get your magdyno reconditioned for less.
I have had good service from Andrew Guttmann at Priory Magnetos.
https://sites.google.com/site/priorymagnetos/home