DV - I have the Powermaster 1-wire alternator hoooked up in my SPF. I can do "layman" terms because that's the extent to which I understand it. As far as I know, it is internally regulated and therefore it only needs 1 wire and no external voltage regulator. It seems to work really nicely. I have not had any issues at all, but only have about 1100 miles on the car so far.
PS - DV, your mailbox is full.
