I'm pleased to say that the alternator is finally back on the car and putting out a healthy 14.3v. The slip rings, rear bearing and brushes have all been replaced using the kit from ebay. The front bearing has to be pressed out and as it wasn't showing any signs of wear I decided not to change it.
Luckily there are several YouTube videos showing the process on similar Valeo units. The good thing about these older ones is they can be dismantled without needing to de-solder the rotor connections. Gasa's thread also has some useful tips for this job.
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The rebuild kit
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Once the alternator is separated the rear bearing needs removing together with the plastic spacer. The slip ring assembly was then removed using a small cold chisel to carefully split the copper rings and mounting away from the shaft. The slip ring connectors are set in epoxy resin, which all needs chipping away.
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Fortunately the slip ring contacts can be connected either way round, which is handy when you forget to mark them. Cleaning the solder and slip ring crimp remains off was quite tedious. This needs doing very carefully to avoid breaking the wires.
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The slip ring is an interference fit onto the shaft, I tapped it down gently with a small hammer. The connections were then encased in epoxy resin as per the original spec and the bearing refitted over the spacer.
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The new brushes were fitted to the regulator before reassembly with copious amounts of RTV sealant over the terminals.
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Hydraulic pressure pipes were disconnected and the oil filter was removed to provide space for refitting.
Overall this has been a worthwhile job, new alternators are around £100 if you can find one so it's definitely saved me a few quid.