Ok... I like having an amp meter because it shows the state of charge of the battery and that the alternator works instantly!! A volt meter doesnt really do that.
I have a 66 Charger with the amp meter still intact and original. The bulkhead connector was showing signs of melting, so I put a wire straight thru it to get around this problem. I am of the opinion that so long as I stick to the original size alternator of 37 amps, that there is NO problem with keeping the amp meter intact. In addition there is a "bypass" of the amp meter for the headlights.. this being the biggest draw of current. I live in NC and without air conditioning, and rarely need the heater blower, no power windows, there just isn't that much current ever being used. I also am planning to put led lights into the tail. Also, it is NOT a daily driver and I only put about 500 miles a year on it, mainly driving to local car cruises.
I also have a 74 Challenger and still have its amp meter wired normally. It still has the original alternator in it, I believe 50 amp and I will stick to that amperage. In restoring this car I noticed two problem areas. First the connector to the heater/air conditioning switch showed signs of melting. That is no longer a problem as I now have Vintage Air air conditioner/heater and its power is directly connected to the battery. (yes, I know its use therefore doesn't go thru the amp meter so that it isn't accurate when using either air or heater blower). Secondly, I found previous owner bypassed the main power wire going thru the long flat connectors at the steering column as it showed signs of melting. I also am planning on putting led lights into the tail lights. So, again, the power draw actually going thru the amp gauge is simply for the ignition system and radio. I rarely drive the car at night. I drive it about 1,000 miles yearly, mainly to car cruises and an occasional car show. So, i think it is ok.
Oh, and NO I do not have any huge sound system in the cars, only aftermarket 200 watt stereos. If i did that would change things.
Now, so long as i stick to original amp alternators, and drive 1,000 miles or less 95% of which is daytime, with both cars I think the chances of the amp gauge catching on fire is about 1 in 10000. Chrysler obviously didn't do the best job on designing these cars electrical system, but, if you don't overload them with too high alternators and huge amplifier radio systems, I don't see a huge problem. Heck their both over 40 years old and still working.
Or do I have my head in the sand?