Not familiar with an m as to if it had a coil or magneto.
If coil, get a Napa ic14sb, if magneto, Nada to do.
Alternately, you could get a proper ballast resistor and retain the old coil, but I'd get the new coil.
As said, change lamps.
Likely you will be changing ground polarity if you are going to an salt or an electronic ignition.
For stealth conversions you might be able to get your gen rebuilt as 12v, and get a new regulator or cutout. If it uses a lamp tickle switch, you could retain that or not, if you keep a Genny and convert it..e tc