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 - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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