I use the same diagram Jim posted. I've got one setup in my Humongous, two more for bench running, and another in my Vampire. So far I haven't had any problems with the ignition system, just discharged batteries and faulty coils. Generally speaking, if the rest of the components are OK, the posted circuit works too.
From what I've seen of vintage ignition circuitry, modelers back then couldn't solder a good joint if their life depended upon it. I understand that vintage batteries were crap. Some ignition engines are not as well manufactured as others. My point being that with good joints, good batteries, and a good engine, ignition isn't that much more difficult than glow.