The mini-starter and the ignition won't have any real common ground to worry about. Well, not much anyway.
It's usually a best practice to retain your old starter relay mounted to the fender well. Or better yet a more modern style from a 90's and newer Ford.
The only thing that has to change with this type of starter is that you run your new 10ga wire from the output side of the old relay to the small stud on the new starter solenoid.
You can choose to either leave the large starter cable in place on the same relay output stud, or as most instructions say, to swap it over to the battery side on the main positive battery cable. Both ways work according to what I've seen. Maybe someone has different info.
If the 970 is the Brown wire, then that's correct that you don't need it. Just cap it off (heat shrink works well for this), tie it off, and tape it off, and you should be good. It's not needed for newer 12v ignition systems so is just redundant.
The reason to cap it off safely though is that when the key is in RUN that wire is hot with 12v and could short out on something if it was just left hanging.
You know... Best practices, and all that.
If that's not the one, what color is it? Most of us that have color codes memorized have no clue what number the circuit is without looking in the book. Maybe Viper, or Steve83 because he's been staring at diagrams for years now, but certainly not me.
If you need to know exactly how each component in the ignition is going to be wired, we need to know more about it. What part numbers and vintage MSD stuff? I think they've changed the 6AL wiring colors over the years, but we'll assume for now yours is newer? The distributors are probably all the same with just the two wires(?) but it still helps to know more.
Unless someone has recently done the same thing and can remember off the top of their head that is. Hopefully they'll pop in and make sure we're giving you good advice.
Let you know what I find when I browse the instructions again.
Good luck.
Paul