Boswell,
Did a little more diggin here in the electrical bay about the internal resistor coils.
Leave the 20 gauge wire from the small unmarked terminal on the solenoid to the (+) side of the coil off. The bypass circuit isn't needed.
Run the 16 gauge wire from the IGN terminal on the ignition switch directly to the (+) side of the ignition coil.
I have service manuals for both the '61 235 and the '49 truck so I can check stuff for you as needed. If push comes to shove, I can go out in the shop and check my '49 that's been 12v for many years now.
