Updating the charging system on a CB400F

noexit

Been Around the Block
I'm re-working the wiring harness on my CB400f project, and I'm wondering what makes a "modern" charging system. I've read about the old charging systems on these bikes frying non-lead acid, and especially Lion batteries. Would a new regulator/rectifier, say from Rick's Motorsport Electrics, be what I need to modernize my charging system?

Looking at the wiring diagram, it looks like AC current from the rectifier goes straight to the battery and ignition switch (red wire), then from there to the various components (black wires). The black goes to the regulator, which also has a white going to the alternator, and a ground. What is going on at this point? It the regulator sending regulated power to the field coil in the alternator, and dumping any excess to ground? Are modern charging systems set up the same way?
 
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