yeah you should be able to run it as a total loss too if you want to bang off the magnets and remove the stator. i think it would be better because it runs off the battery and you should have less problem solving with electrical. if the stator goes bad it will just not charge the battery, the motor should still run. I think this is a much smarter way for the ignition to work vs the yamaha/older kawi style.
It will still run as long as the pick up coil/trigger (blue & green wires) is intact and in proper location.