I don't know of a way to check actual polarity except to try the module with a typical negative ground and see if it works. And honestly? I've only read about the "wrong polarity" issue being a problem with the single terminal devices -- which is more likely incorrect wiring of the module in the first place, but maybe not. Not heard of a positive ground 031 or 032 which is where I've read of the polarity issues with the single terminal modules. Have also heard about timing problems and flywheel re-alignment being required on the older replacement modules..., or not. Seems like those issues have been worked out with the latest generation of these modules. That said, Carl (Driver) would be much more qualified to speak to positive ground possibly being used on some of the older saws as well as possible timing issues using the chips, (though I know he's a points man whenever a points ignition can be revived on an older saw). I think the two terminal modules may have primarily evolved from the practice of using adhesives (RTV, etc.) for mounting them and then wiring to ground rather than hard metal to metal contact otherwise providing the chassis ground connection. As for removing the points and condenser, I'm not familiar with the layout on a 754 (even though I have one!) but would think it would be more a matter of space consideration or simple convenience than anything else as to your decision there.
