It really depends on the condition of the wiring. If it's just one terminal and the insulation still looks good, there's nothing wrong with using what's there. If it's shot, you'll be money and time ahead to replace it. As was mentioned, Year One has a good harness that will be "plug and play" since it's correct for the car.
Personally, I've repaired harnesses with good results. You want to use good replacement wire and the electrical tape that has no adhesive to wrap it, just like the factory did it. I also use De-Oxit for the terminals, especially on the terminals on the bulkhead connector. I don't smear dielectric grease on the connectors because it's counterproductive. You can use it on the outside of the plastic insulators, as it is intended for that use. I get all sorts of flack for that opinion because it's based on fact rather than what some dipshit said on Moparts. Google the word "dielectric".
A very worthwhile mod is the so called "MAD" wiring mod. Basically, you run a wire, with a fusible link, from the alternator to the stud on the starter relay.
http://www.madelectrical.com/electricaltech/amp-gauges.shtml This will bypass the heavy current running through the bulkhead connector. I've never had to do the other mod where they drill the connector out. It's not a bad change at all. I just don't see it as necessary, especially after doing the wiring mod. The amount of current flowing through the connector is cut down dramatically at that point. Where this becomes a problem is later cars with heavy electrical loads.
I'm not a fan of using aftermarket "universal" type harnesses. I've never seen one done right in anything but a street rod.
I redid the entire harness in my 53 Windsor.
I used a piece of scrap plywood and some finishing nails to contain the old harness. This is the way they make wiring harnesses in the aerospace industry, so it's good enough for my old Chrysler. I replaced the wires one at a time.