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I was always told it was for eliminating the alternator whine in the radio. If this is true and you don't have alternator noise coming through the radio then you don't really need it. You see pickups that never had one so I'm not sure of the criteria for mounting it.
I've installed points condensors on coils where there wasn't one originally to eliminate ignition whine where a high output stereo was installed.
I'll check mine for a value this afternoon and see if I might be able to find one at Radio Shack- I searched MotorHaven but all I could find was decals when searching for "voltage regulator" or "regulator".
What I have read is the supressor on the regulator is for the old style mechanical regulators with relays which make a lot of RF noise. Alternator whine can mean a shorted or blown diode(s).
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