I would NOT start it untill you corrected the reg problem..... voltage spikes reek havoc on elec components. Odds are that's your problem.
If I were you I'd look at how much the reg costs vs a new internal regulated alt. Super easy to convert to the new alt..... basicly you install two jumpers at the old reg, add a 8-10 gauge from the alt back to the orig factory splice (to handle the need increased amps) and change out the pig tail.
Best thing I ever did for my car..... up till I re-wired it with a modern wire/fusebox kit.