a puff of smoke and now nothing 69 valiant electrical issue

not necessarily... positive ground! maybe the radio would have an issue and the heater fan would spin backward! but I bet everything else would work as long as it was still using the old mechanical electronics like VR etc.

My grandfather had an old amplifier for a PA system that was positive ground. just don't set it on the metal of the car. ( it was a 12V powered system)
If the alternator is connected that is what blows everything up. It forms a dead short through the ammeter/ bulkhead connector/ fuse link to the battery.