Significant integration of intermittent energy resources such as wind power generation in electric system dictates the need to investigate the system reliability impacts and implications when adding a large amount of intermittent sources. This paper extends the concepts of the effective load carrying capability (ELCC) and the generation replacement capability (GRC) to consider both generation system adequacy and security domains. A system well-being analysis using sequential Monte Carlo simulation was utilized in this paper in order to capture the characteristics in the two reliability standpoints. A deterministic criterion for loss of the largest generating unit was considered in the study as a security measure. An auto-regressive moving average (ARMA) time series model was utilized to simulate hourly wind speeds. The study results were demonstrated using the two test systems designated as the RBTS and IEEE-RTS.