Thanks much for the feedback folks. It is greatly appreciated.
Today, I returned the Predator to HF and went all in on the 11 hp. I spent some time laying out the switch wires based on your guidance and also on clues I found from the colored wire remnants on the cart itself. Progressing nicely...
I also wanted to look into why, when we first picked it up, we did not seem to be getting any spark. So I tested the coil (it had a lower reading but still above 2.5), cleaned the magnet, gapped and reassembled and low and behold...the plug was sparking when I cranked the shaft with my cordless drill. I decided to push my luck and see if I could fire it up with a little taste of fuel...but no go. I am going to look at the carb and governor tomorrow and check the settings. Would love to get her making some noise by the close of the weekend.
What does confuse me though is that the 2 black wires coming off the coil lug are connected to nothing. I can only assume they are used to shut the motor down either via a kill switch, low oil sensor, etc.
The quest continues... I feel like Indiana Jones!