Brent,
Two connections for alligator or Dgarretson's pins is not correct.
When you cut one RCA off of the cheap pair the cable will likely be a coax design. The center conductor is positive the shield is negative. Solder to all four and you have plus and minus left channel and plus and minus right channel.
If you use my alligator clip idea, connect to the four headshell lead following colors red, green, white and blue (as outlined by Thom @ Galibier).
Same thing with Dgarretson's idea, but you use the tidy pins he linked to so you don't have alligators. Either way the signal passes through all wire at once and as Thom says, even the wire in the tonearm benefits from run in.
