Right...sort of ...with a key switch....the mags and the electrics are on the same switch, (most planes) when you have it on "both"...both mags are ungrounded...and the electrical system is "on" ....that is stuff like avionics, lights etc. There is also current to the alternator and coil. So if you shut off with mixture...you still must turn the key to "off" position or you will return to a dead battery
In antique planes like mine....there is no electrical system...no alternator, no generator, no starter, no lights,,
nothing...just magnetos......the mag switch has left, right, both, and off. And you want the engine ready for a hand prop, so you don't want to run the cylinders dry of fuel...of course just a few pull-throughs of the prop will charge the cylinders if needed.
With airplanes, if you are worried about fuel economy, you have the wrong hobby!
Again with my antiques it give maybe 15 miles per gallon. (4 gallons per hour at 60 miles per hour) if no wind.. If you don't fly too high...leaning mixture is not necessary. Low and slow is more fun anyway. You can adjust the mixture at the carb if you are always at high alt...
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Close. The hot mag switch has no effect on the battery. That would be the battery switch. Chopping the mixture ensures that there's no fuel in the cylinders when your friend pulls on the prop. Without a mixture control you must get worse fuel economy and less performance! What a deal. I must say, I was shocked when the consensus of plane manufacturers decided that it was best to run on the lean side of ideal. Lean to max EGT, then lean a little more.