Marty: Thanks for the tutorial on precision-dating Cub production from their serial number. You're right, its not too hard and fun to do.
Harry: You always seem to stir up at least of full page of responses. You should get into television and host a talk show on a cable news network. By-the-way, I stated at the outset that I have fairly severe color blindness, and wire insulation colors are notorious for fading. I do like reference to the Service Manual, though; I had forgotten it includes a wiring diagram.
Roland: When I said the diagram was "wrong" I was quoting Lewis. Although I posted your rendering (which I admire), I was referencing the IH schematic on which it was based.
All: I would still maintain the distinction between a schematic and a diagram. For instance, a diagram (such as found in the Service Manual) identifies each wire and shows where it goes; a schematic tells us what each wire does. Or again, a diagram is helpful (often necessary) for installing the wires; a schematic is helpful in troubleshooting the circuit.
To the point, from the logical, schematic perspective I only need to know that the V/R case is grounded, I can work out the details of how it is connected. From the practical, diagram perspective (like Marty's) I need to know what to do with the pink (!) wire in my hand; I'll figure out what it does later.
--that's my story, and I'm sticking to it.
By-the-way, I found the new schematic from Roland before I found the discussion; what I noticed was the new, fancy, rendition of the breaker points and their connection to ground --nice! I never noticed the pink wire to ground at the regulator, but then, I'm color blind.
Edit: Did anyone else notice that the only wire colors NOT given in the Black & White Schematic Kraig posted are the wires to/from the battery? The yellow wire Lewis depicted is not called out.