I have a 1994 318i with US specs that I recently purchased from a
private owner and would like a little help from the group to diagnose
an electrical issue.

* The alternator appears to be a 105A Valeo
* Most of the time (but not all the time), I notice a slight pulsating
of all lights - headlights, odometer LEDs, interior lights, etc.
* The pulsating is sometimes made worse by increasing the electrical
loads, sometimes not.
* Every now and then, the backlight for the onboard computer display
will go very bright for 2-3 seconds and then the instrument cluster
will go dead and reset itself.
* Sometimes the check engine or ABS fault light switches come on
briefly and turn off.

Based on posts here and elsewhere, I suspect the voltage regulator or
alternator. So, I did a load test in the car while measuring battery
voltage:

At idle: ~14V
All electrical loads on and at idle: ~12.6V
All electical loads on and at 2000rpm: ~ 14V

Does anyone have any insight into whether it is the alternator,
regulator, or both? Also, I understand the Valeo alternators are not
very reliable. Should one even bother fixing one or just replace it
with a Bosch?

Thanks!