Permanent magnet alternators do not suffer from overcurrent when the regulator shunts current to ground. They also do not require more engine torque to turn them when shunted. I first discovered this when testing regulators that I manufacture, using a variable speed motor driven motorcycle alternator in my bench test setup. The torque required to turn the alternator is actually least when its output is completely shorted. This is because very little electrical work is being done when the output voltage is zero and current is limited by the permanent magnet field.
Going to a series type regulator can offer some advantage, but it can also cause problems from high voltages resulting from opening the circuit when regulating, depending on the exact design of the series regulator.
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