no, it might have run fine for the time being, but that is not the way it should be ... the ignition resistor goes between the ignition switch and the coil +, and the bypass wire from the starter goes directly to the coil + or to the 'output' end of the resistor - you do need that bypass wire so the coil gets max voltage when the starter is drawing a lot, and you do need the resistor to reduce the voltage to the coil so you don't overheat it or burn up points rapidly
Bill