Could one of you guru's tell me what size resistor and led I would need to wire into the EI so as to see when ignition is turned on. Running a 4.8v battery.

Get one of these. http://www.badbradgraphics.com/image...ll_switch2.jpg

A kill switch is a good idea anyways, about half way down on this page next to the plug in tach
http://www.rcextremepower.net/ignitions.html

go HERE and enter in some numbers, looks to me like a 150ohm resistor should do the trick

Seems like a lot of trouble to save $14.  The Optokill I linked to cost $11, plus $3 shipping.  I have one in my Dewey with DLE20, works like a charm.

Don't need a kill, just the light.

$3 and a few minutes with a soldering iron is a lot of trouble? now realizing how EASY it is, I'm thinking of hitting up Radio shack and grabbing some resistors and insetting an LED in the top of my EI airframes... For $2 at Radio Shack you get 5 resistors, LED's you can find for cheap too.

True, but the extra safety factor provided by an ignition kill switch on the radio. Priceless
Pete