The 7127-3 will work. I originally put one in my TR3, but felt that the position of the plug-in terminal would be better at the 12 o'clock position. You have several alternatives. The first and easiest is just to exchange the -3 for the -12. The second would be to re-clock the unit yourself. Basically you just have to unscrew the two halves and turn them. There are several ways to do that however. The easiest is to remove the pulley and fan, unscrew the four through bolts, and then lift the front drive end housing up the shaft of the rotor enough so you can reposition at the -12 o'clock position. when doing this, you want to make sure that the rotor stays down in the rear slip ring end housing, or the brushes will pop out of the brush holder...
Which, brings us to the other method of clocking the 10SI...
Remove the four screws holding the two halves together, and completely separate the making sure that the stator winding stays with the rear half. you will hear the brushes pop-out. The brushes should now be dangling from a white plastic thing called the brush holder. What you have to do is get a paper clip and straighten it out. That is what you will use to hold the brushes and springs in place when you reassemble everything. Put one spring into the lower cavity (as you're looking down into the alternator back) and the push the lower brush into the same cavity with the wire oriented so it slides along the slot in the brusholder. Hold it in with your finger and from the back of the alternator push the paper clip in through the access hole back there. You'll have to push the brush down enough to get the paper clip in front of the brush. Push the paper clip in only far enough to catch the middle section of the brush holder. Now insert the second spring and brush and push the paper clip through the last hole in the brush holder. You now have the brushes set and can easily re-assemble the alternator into the correct position.
When you have the alternator re-assembled, just pull the paper clip out, and you will hear the brushes pop against the rotor slip ring.
If you have trouble setting the brushes with the brush holder in the back, you can always take out the three screws holding it and the voltage regulator in. Since the diode trio is attached to one of the screws, just go ahead and remove the three nuts and take out the stator and trio. The only thing you have to watch is the insulators on the three screws that you take out when you remove the brush holder. IIRC, one of them is NON-INSULATED, so make a notation of where that one goes.
But, you should be able to set the brushes without removing everything.
Edit: Yes boys and girls, it is possible to re-clock the 10SI just by taking the four screws out holding the two halves together and lifting the slip ring end housing JUST ENOUGH to re-position WITHOUT losing the brushes, but it's such a fine line that I don't recommend it.