http://img.photobucket.com/albums/v409/Murderhorn/ignitiondiagram.jpg

In this picture, does "run" refer to accessory lead (on when key is on) and start mean that it only gets power when the starter is engaged?

mole,
That is correct. The "start" wire bypasses the ballast resistor during starting to get a hotter spark. The when you let the key off, it goes to the run circuit so you don't burn the points up. Same as any GM point ignition. I dont think I would call the "run" circuit an "accessory" circuit though. The acc circuits are usually also on when you turn the key counterclockwise to the accessory position. The "run" circuit is only hot in the "run" position.

mole,
That is correct. The "start" wire bypasses the ballast resistor during starting to get a hotter spark. The when you let the key off, it goes to the run circuit so you don't burn the points up. Same as any GM point ignition. I dont think I would call the "run" circuit an "accessory" circuit though. The acc circuits are usually also on when you turn the key counterclockwise to the accessory position. The "run" circuit is only hot in the "run" position.

Thanks!