I don't know how relevant this is to Classic owners in the 'States, but it has proved useful to myself in the UK (and that's why we do modifications eh?)
I have been using the stop-engine-with-the-decompressor-lever method since reading on here that is is better for ES models re sprag clutch etc etc.
I found it too easy at night or while working on the bike to leave the ignition in the 'on' position because the only giveaway is the ammeter if flicked over and of course the key position. Well, I was finding I was leaving it in this 'on' position while working on the bike more times than I'd like especially with the darker winter evenings coming in.
I wanted an ignition light!
I had fitted an MPH speedo which happened to have the neutral light in place. A redundant light in my case as my four speed RHS change doesn't use one. So, I removed the ignition switch. Soldered a couple of wires to the back of the relevant terminals to that carried the 12v when the ignition switch was in the on position and fitted it all back in place. I removed the bulb holder that had the neutral light and chopped off the wiring (that on mine was wired originally as extra speedo illumination on the KPH European spec speedos).
Here's the clever bit (
well not really). I then fitted a
super bright 12v white LED through the plastic holder and fitted a cable tie to hold it at the right height above the holder so it sits right against the neutral light lens cover. The LED was then soldered and heat shrink protected onto the previously soldered tails from the ignition switch.
Result is a light I can see at all times with the ignition on without it being blinding at night. One could always fit a separate holder somewhere on the casquette if needed etc.
Works for me and I don't leave the ignition on now while 'playing' /maintaining the bike!!!