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Why the light?
The ECU self diagnostic can answer that better than any of us. It may be trying to tell you something. Read the stored codes. If you get anything other than 1-1-1, post it here and someone will tell you what it means. Yes, you can reset it, but it will likely come back on until you take care of the underlying problem. Here is a youtube video that shows how to read the codes on a 240. I believe the process is the same on a 740.
http://www.youtube.com/watch?v=odE9LoTQqwg&feature=g-upl
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1966 122s, 1968 142s, 1969 144s, 1979 245dl, 1989 244gl
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