I have also read that the 3 wires are much better than the 1 wire and just as easy to install. The advantages are:
~ w/ a 3 wire you get ur dash warning light, 1 wire you don't.
~ 3 wires self excite(start charging) at an idle, 1 wires you have to high rev to self excite.
~ 3 wires run all ur accessories and charge, while 1 wires just charge and ur batt runs the acc.(to my understanding, dont quote me)
Just to name a few, here is a link to where I got the above info. I found it very detailed and taught me a few things. Rather lengthly but well worth the information and knowledge of how your charging system works.
http://www.rowand.net/Shop/Tech/AlternatorConversions.htmhttp://www.madelectrical.com/electricaltech/onewire-threewire.shtml