What are you left with at the current time? Is your 4-position regulator plug still intact? Or have you cut it out of the system already?
Not exactly sure what you mean by "splicing into the Yellow wire" because if you no longer need it, what would you be splicing into it?
You can basically do any of the above with the old Yellow wire. Connecting positive-to-positive does not hurt anything, so you can put a ring terminal on it and connect it to the battery side of the starter relay. But that area usually gets pretty busy on our Broncos, so you may not have much room there. Especially with the new heavier gauge alternator charge wire already taking up more space there too.
In your particular year Bronco (you said this is the '72?) the regulator was over on the fender skirt near the battery and starter relay, correct? If so and the Yellow wire reaches without adding an extension, and you have room on your relay/solenoid's terminal, go for it.
If it does not reach, but you know you might need it in the future, add a new power distribution block/stud/thingy and mount it there. Of if you know you will not need that old wire for some other duty, just cut it off where it exits the harness, tape it up and tuck it away safely out of sight.
Paul