Electrons prefer to travel - to +, but re-wiring an SOHC to positive ground seems a but silly. I always thought the Brits used positive ground because no one really understood electricity back when the 6V and eventually 12V systems were designed, and there was simply no standard. In any case, it does seem that the British had it right in that regard.
Regarding the OP's original question: Back when electricity was not so well understood, the frame was relied on as a return path to "ground." There's a reason harnesses eventually included a "ground" wire, like Honda's green wire as Hondaman mentioned. Electricity simply wants to get from point A (+ side of the battery on our bikes) to point B (- side), and we're asking it to do a little work along the way. This is why it's called a "circuit." It's a loop or it doesn't work. When you ask the electrons to pass through rusty, painted, powdercoated, or poorly connected metal, you're going to see resistance and therefore a drop in voltage. If you want your electrical system to work as well as possible, give those guys the super-highway Honda gave them, which is the green wire circuit.
The big wire that goes from the - side of the battery to the frame is not just for the high current of the starter to return through... you need a nice clear path for the ignition as well, or you won't get spark. Try rubber mounting your entire engine and see what happens. You need the electricity arcing the spark plug electrode to make it back to the battery as well! I like to run a wire from the top of the engine into a loose green connector beneath the tank just to be sure.
Don't go back to the '30's in an attempt to "simplify" things!