Dear Dennis;
Kieth is correct in part.
It does add to point life by reducing the coil imput voltage (run) to about 6.8V.
When starting the coil should get a full 12V. This compensates for the voltage drop at the battery when the starter is activated.
To connect this you'll find a terminal on the starter switch/solenoid that is only 'hot' in the start mode. Connect this to the coil by-passing the resistor.
If your 55 (foor start)doesn't have one, use one off a 57.
This was standard on all Chevrolet 6 (55-62) 12V systems. Check Motors Manual for diagram.
Good luck,
