"<font color="#6699ff">[b:654c4848f0][i:654c4848f0]Is the switch my problem or did I fry something else?[/i:654c4848f0][/b:654c4848f0]</font>"
Take a look at the diagram below.
Note the [b:654c4848f0]Red[/b:654c4848f0] wire from the Starter Switch to the POSITIVE post on the Ammeter.
Note the [b:654c4848f0]Black[/b:654c4848f0] wire from the Regulator to the NEGATIVE post on the Ammeter.
If your Model 40T has a generator as displayed in the diagram above, then the ammeter will be "wired" as shown above.
If your Model 40T has been converted to a 12V NEGATIVE ground electrical system and has an alternator, then your ammeter will be "wired" as shown in the photo below.
Note the [b:654c4848f0]Red[/b:654c4848f0] wire from the NEGATIVE post on the ammeter to the "BAT" post on the new ignition switch.
Remove the instrument panel and check for any "loose" or broken wire connectors.
You might consider using a test light to check for electrical current at both the POSITIVE post on the ammeter and then the NEGATIVE post on the ammeter.
If there is electrical current at the NEGATIVE post, then the ammeter is good.
Take a look at the photo below of a new ignition switch.
Check for electrical current at the "BAT" post on the ignition switch.
If there is electrical current at the "BAT" post, then turn the ignition switch [b:654c4848f0]ON[/b:654c4848f0].
Check for electrical current at the "ING" post on the ignition switch.
If there is electrical current at the "ING" post, then the ignition switch is good.
If the electrical system is the original POSITIVE ground, then check for electrical current at the NEGATIVE post on the coil.
If the electrical system has been converted to 12V NEGATIVE ground, then check for electrical current at the POSITIVE post on the coil.
If there is electrical current at both the POSITIVE and NEGATIVE posts, then the coil is good.
Hope this helps.