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Replacing the ignition on my 1968 Cutlass

Background information

It was a beautiful sunny day to drive my 1968 Cutlass convertible to work.  I got there, turned the key to off and pulled it out. Low and behold, my engine was still running.  I think some strange combination of turn lights on and really turning the key to off seemed to finally get my engine off.  I had the same results when I arrived back at my house. On a side note, I noticed that with the key out and the battery still on, my generator light was on.  Not sure what is using power or if a circuit is just open. I unplugged my battery

Next Steps

I asked around and came to the conclusion that my ignition switch was bad.  I ordered another OEM one off ebay and I'm currently awaiting its arrival. I then took out my currently ignition switch and there are picture below.

Questions

Do you think this will fix my issues? I noticed with the ignition out and the battery plugged back in, my generator light still came on.  Does the ignition switch close a circuit using my dash as the ground and is that why I'm still seeing the generator light?  Is there something else complete wrong with my car?

As always, thanks!

Update

I received my new part, but it looks like the connections on the new one do not match that of my old one. Is my new one just incorrect or is it possible the previous owner changed my already to something not original?

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