After more research, it appears the no start lockout is probably occurring in the key cylinder portion of the ignition switch. Apparently there's a pressed backplate on the backside of the cylinder that performs a no start lockout until you turn your key full back to off. The backplate loosens off enough to keep the starter position permanently locked out. Here's the post that detailed the lockout and the problem with pictures:
http://forums.pelicanparts.com/showthread.php?t=348306
Looks like I'm going to have to pull the whole assembly out and either try to fix it or replace it.
Also, it seems the two pin electrical connector on the housing is used for the key in buzzer.