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Originally Posted by thegrandiman
Awesome. I really appreciate the info. I'll dig into. I just got the truck. I believe the previous owner installed an Electronic Ignition. So if that is the gas, I can just remove that wire?
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Yes and that wire splices into a wire from the starter that sends a full 12 volts to the ignition coil in the points system, which gives a hotter spark when cranking the engine for easier start. After running, the ignition reverts back to the resistance wire (shown in your picture) for normal ignition to prevent the coil from overheating.
Here is a diagram of the wiring in the stock trucks. If a previous owner has installed an HEI ignition distributor it needs a full 12 volts and you can disconnect the resistance wire.
notice the starter just above the engine block where the yellow wire joins the W\orange\purple wire from the bulkhead junction.