Yes it does. Especially with a six cylinder car.
Look on your alternator body for the numbers stamped into the body. Unless your car had A/C it should say 36A. Trouble is in 1964 transistors didn't exist, so your voltage regulator is mechanical. It senses voltage using a Wheatstone bridge relying upon different gage wire coils rather than the more common carbon powder ceramic resistors (which are heat sensitive), and four silver coated mechanical points. The points burn and pit from arcing, and the fine wire resister often either shorts out or opens up causing voltage issues in charging and dim lights.
The 10 AD alternator in your car isn't powering your car, the battery is. The alternator is used as a battery charger and a filter. So if you have an old battery with high internal resistance you will have low voltage in your system with the alternator trying to bring up the voltage pumping amperage through a high ohm load which drops your voltage which gives dim lights. Add to this the fact that the alternator requires 3,700 RPM input (which is equivalent to 1,600 RPM at the crank to out put any amperage at all and then it is only one third of the full rated amount; as the alternator spins at 230% of crank speed). At 4,000 RPM it is only outputting 85% to 90% of it's rated power as GM measured it at the armature and not the battery terminal. The induced voltage is directly proportional to the rate of speed of the conductor that it is cutting through the magnetic lines of force generated by the armature wiring.
The 12 CS (one wire style) reverses two things. Instead of relying upon the battery to power the car the alternator provides the main power with the battery used mostly for starting the vehicle and powering your electric fuel pump, stereo, and the fans after the car is turned off if the car is still too hot. The CS style alternator outputs half of it's full rated power at 1,200 RPM (with the smallest one you can buy being rated at 61 Amps, so you have already 100% of your old alternator's power). The other thing is it is fully transistorized so instead of relying upon the battery to meet the electrical load the alternator with it's internal regulator can react fast enough to do that (the old mechanical points style would respond too slowly to meet demand). It also sheds heat faster to run cooler due to it's reversed air path flow (newer CS-121 or CS-130 style alternators have an internal fan), which is why the older SI style alternators (found on 1971-'85 vehicles) where not as reliable.
Basically from the days of generators there have been the 10AD (what you have now with an external voltage regulator used from 1963-'70), the 10SI (used from 1971-'85), followed by the improved 12SI (distinguished by it's plastic fan and a big hole in the rear too cool the diodes and rectifying bridge from 1983-'86), then the "one wire" CS-121/CS-130 series (used from 1986-'96), and finally the internal fan CS-130D and the CS144D series used from 1986 to date for the CS-144D (the CS-130D was discontinued in 1996). Basically the bigger the number the bigger the alternator's rated power out put (though all interchange and are about the same size). From 1985 and up GM used a serpentine belt to power the alternator as getting more power out reqwuired more power going in. You can use a dual V-groove pulley to make up for this lack of contact patch off of a Cadillac or Buick that had a larger amp rated alternator than a Chevy did, and change to a dual groove crank and water pump pulley that was used by A/C equipped cars.
Cleaning terminals will help as corrosion creates resisstance and as we all know electricity is as simple as PIE (Ohm's law).