Hail to the Chief...interesting week in my world.
No on the shutting it off with a key you will need to remove the wire if it runs, but doing this does tell you if your prob is with engine electrical ie. points, cond, cap, rotor, etc or if the prob is in the wiring harness...like a short somewhere under the dash. If you leave the other wire hooked to the coil, it still might cause a short and cause the truck not to run.
Two aligator clips and a piece of wire will help you diagnose the engine at least.
I need to finish my hardwood floor project so I can get back to the truck!! Two more coats of Poly and I am done.