As capguncowboy stated, the keyed ignition would only be just that, a keyed ignition which would serve no meaningful purpose in preventing theft and would act as a secondary kill switch. It would basically function like the ignition switch on your handlebar, only you'd have two of them, or you could replace the handlebar switch altogether.
As far as the lights are concerned, you need to buy a charging coil and a flywheel for your specific engine.
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