I can explain the floating (un-grounded) stator. With a single-coil/2-pole (6v type) stator, both ends of the coil winding are fed to the reg/rec unit, one to each input. With a radial array, each coil in the array is wound in the opposite direction (CW-CCW) from one, continuous, length of wire, leaving two end leads...each of which is wired to the reg/rec unit same as with the single coil type.
The reg/rec unit, itself, provides the system ground and that's key to its operation. Full-wave can generate high voltages, which requires tight regulation. The reg/rec dumps excess voltage to ground.
With the "normal" half-wave/"balanced" charging/lighting systems used on virtually every engine out there, one end of the coil is run to ground...leaving only a single output, that is either fed to a simple diode or directly the the HL circuit. The 6v alternator lighting/charging coil is actually two coils wound on the same armature, each has one end run to ground. These half-wave systems generate less voltage and rely on total system draw (bulb wattage and battery) to regulate voltage...it's as crude as it sounds, depending on matching (a.k.a. "balancing") system draw to maximum alternator output.