P200 engine/frame with Sprint switch - wiring question

Hi All,

My friend has made a project starting with P200 engine and frame and turning it into (sort off) Sprint (side panels, steering etc.).

Anyway, wiring is all clear (unchanged in fact) except for the switch. I've made a conversion diagram but I'm not 100% sure.

I see you guys are a regular "P200 into an old frame" doers so I'll appreciate if you can help me on this.

It's a 12V P200 stator with blue and black wires. The switch is a standard non-battery Sprint/Rally/SS.