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 - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
... [Read Article]
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