Beewrangler,

I have been chewing on this post for awhile now. I think your wiring would work. Normally, the switched power for #1 would come through the filament of the GEN lamp, as this would supply a natural resistance and help if there were any back feed issues. If your key is switched properly, this should work fine...I hope!

http://www.rowand.net/Shop/Tech/images/AlternatorWiringOverview-1973to1985Buick.jpg


Stuart