deleting all of your excess wiring down to three toggle switchs.Here is a little mental challenge for you!
If you have your head lights, light for your speedo gauge on one switch.you have no starter, to delete some of the overal weight.the five wires coming off the generator,go thru the rectifier.two wires coming off the points,goes to the coils.that leaves you one wire on the coil to come from the batt.one switch is a kill switch,the other is a master switch. where would you place the red wire coming off the rectifier and tie the main batt wireto the other switches?

hope you have a manual with a wiring print. if you don't get one. i did the same thing on my 73 350 custom hardtail.
me thinks it's what is called a half wave system. i took it for granted mine was same as newer models, 3 phase alternator putting out ac voltage to the rectifier. however on the 73 only 2 legs of the ac goes to the rectifier the 3rd lead runs directly to the headlight. when i tied it together as if it was dc[not knowing at the time]it fried the rectifier and regulator and some wiring. learn from my mistake make sure everything is compatable before you put a battery in it and fire it up.
i hav'nt been able to find anyone around here that can tell me if the old system will work with a modern solid state rectifier/regulator, if it will that would be the best way to go.
good luck moe