EDIT: Computer controlled carb? Does the nutter bypass apply to that?
I don't think so. Not sure on an 86, but the 84 150 used a Carter YFA not a Carter BBD like on the 258.
Milkman, I was in the same boat as you at one time on a Scrambler I was rebuilding. Here's all you need to do to get running. You need to find the switched power coming out of the firewall, crank or start wire from firewall (haynes or chilton's will show this), the stock coil, distributor, ignition module, starter solenoid and the resistor wire. If you can't find the resistor wire, I believe you can pick one up at AutoZone, Wells Ingition Products, pn F-799 (do not shorten the wire). The wiring diagram for hooking all of this stuff looks like this:
Another thing, when I was going through this, I was told to keep the wires (Orange & violet) from the distributor tightly twisted together, and run them along the block and sheet metal. I'm pretty sure it has to do with shielding the pusles from the dizzy to the module from any interference. I did just that and it ran like a champ.
FWIW, I took a jumbled mess of wires and did exactly as described in the diagram and ended up with a nice clean looking loom.