Steve, apologies for delayed post - network problems at home and somewhat busy at work.
Yes you have got the correct connection for your battery feed. As for your earth, anywhere convenient in the dashboard area. There is an official earth point but any screw or bolt with a good connection to the shell will do.
Radio codes seem a bit hit and miss. Taffy needs one, neither of the 2 Open Classics, 92-93, I've owned with Philips R552 radios have but have no security labelling, my 94 Cooper Spi with Rover badged radio but no model id does have labelling but fired straight back up when battery reconnected after 3 months! Unfortunately I can't say what may, or may not, have been done to this radio before I owned the car.