Very simple test, with it warmed up, ignition off and engine still running, pull the coil wire and see if it stops the running.
If it continues to run, then the problem is not electrical.
Ignition timing has nothing to do with run-on other than changing the idle speed. Setting the idle as low as practical and being ready to kill it with the clutch is about the only option.
Looking at the wiring diagram, it appears the resistor on the light switch is for dimming the instrument lights and should only be wired to the instrument lights. If it is getting excessively hot there may be something wired to it that should not be, but it is normal for a resistor under load to get hot.
As long as the battery is charging, is not discharging when shut off, it appears to look like everything is normal.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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