I have 71 and 74 service manual, but based on the drawing from mattax i need to have blue-white trace(ign2) that is feeding msd also feed into blue wire on voltage regulator?
Basically Yes. Power in ignition 1 (wire J2) and ignition 2 (wire J3) is used to signal the MSD to turn on.
Ignition 1 is power to run the engine and that includes the alternator. One branch goes to the regulator so the regulator knows the system voltage. Another branch goes to a field terminal on the alternator. Additional branches were added on some years/models for other basic engine electrics that were added (such as electric choke assist).