Andy,

There are ways to wire it that will work, and there are ways that will work better. A few months ago I rewired my Studebaker using guidelines and pieces from Mad Electrical

http://www.madelectrical.com/

There are a number of excellent technical articles on his sight that I recommend you read before starting on your project. You will find answers to many of your questions. And while they might not address your exact set up, they can still be applied. Mark is also very helpful if you give him a call with specific questions. If you do decide to purchase any of his wiring kits, you will find they are very complete, top quality and have excellent instructions.

I can answer one question for you for sure, yes you do need to run a ground strap from your motor to the frame, unless you are using solid steel motor mounts.

Hope this helps

Pat