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The solid state CVRs will keep the reduced voltage constant and at steady state but the old units work in the same way that the old King Seeley gauges so the only thing constant about them is then the open and close the circuit at a high enough speed to fake the system into recognizing it as a constant. They were used on King Seeley Gauges but I don't know if King Seeley recommended this set up or not. Ford certainly used them well up into the 60s and maybe later in some cases but I always noticed un-explainable variations in indicator readings on an old 64 T-bird I once owned.
The unit mentioned may be a solid state unit but it's hard to tell with the way it is potted.