I know these original electrical system components aren't ideal and could likely benefit from an upgrade.
Hello Ziggler. Is the Morgan a new to you boat?
Assuming this is the case, 34 years old is not bad. Mograns are good boats with a decent history of caring their owners out into the water and back home again.
Let's make this realistic. Decide on haw you want to use the boat. Will she be a day sailer, or do you plan to cruise the Ocean into the vast Pacific NW waters of Washington and British Columbia?
As a day sailer you can likely run the Columbia and not need to much in the form of electrical systems. As you start to spend more time on the boat as sleep overs your demands will increase. I suspect your actions to modify the boat, as in upgrading the electrical systems. will evolve.
You can do this in phases. Likely you want to have a reliable engine. So, let phase one be the basics. Assess the engine starting and charging systems. Make sure the wiring is proper and that the connections are solid. Place on the "inspection and assessment List" Alternator, Starter, Battery, and Charger.
That is how I started. I worked on the backbone of the boat. I also made sure I could take the boat out on the water and enjoy the experiences I had dreamt of, which caused me to buy the boat.
As you phase in the new items, do it with an overall plan. That way your not buying things, spending money then regretting the action because it doesn't fit.
Good luck