atomarc, two of the three switch positions will work with they key out. Vertical is "on" and that's where the switch has to be when you stomp the starter button.
Key turned counter clockwise is "off/unlocked" There's no current going through the switch, but all you have to do is turn the switch to the vertical position (there's a handle of sorts on the bottom of the switch to do this.
Brendan, mine doesn't have that armored cable yours does. Nor does it have a terminal at the 12:00 position like yours,
The third position is with they key turned clockwise from vertical ("off/locked"). When you do this and remove the key, the switch can't be turned to the "on" position. My father is trying a continuity check with a 6V battery and a light bulb. I haven't heard the results yet.
