It would do no harm, but hopefully wouldn't be necessary, considering the magnetos' coil impedance is probably higher than 0.33Ω at high rpms where the regulator will cut in.
That FET in your link does look better (albeit pricier) than the one I suggested, Spec.
Is the ref to a PMOSFET a typo? My suggested circuit uses just one NMOSFET.
No. There is only 1 other component; the 10k pot. A 1/4W rated one will be fine.
Edit: Even a 0.2W rated pot will do. I suggest a small trimpot
such as this. You could wire it directly to the FET legs.