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Brain and SEVEND2 are correct. The wiring diagram for the '72 shows this as one of the wires going to the TCS solenoid, that is part of the emissions package. I believe it goes to the fuse panel and is marked "radio/TCS". Like Brian said, it should be hot with the ignition on. I am using mine to lock up my 700R4 torque converter clutch.
Good Luck,
Kent
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'56 F-100 (w/all GM stuff)
Lookin' for another parts chaser! 
'05 GMC crew cab
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