As I was studying this topic and committed a lengthy post about it, let me perhaps suggest:
1. The factory way of connecting the radio is to look for black/red wire in the harness in the area of CSV/Regulator/coolant tank support. You would need to feel the harness a bit, untie insulation or cut it a bit - chances are the wire with voltage when key is in accessory position (black/red) as well as permanently powered wire for automatic antenna (red) are there. You will not see them there unless you open the harness a bit and extract them.
2. If not, you can have it any way you want:
a) radio can be operated with key in accessory position (as factory) - there is a pin R in the ignition switch, you need to find it. You will not find this position of key in the fuse box (I think). You need to have this wire go through auxiliary fuse box, placed next to the regulator. It is a single black/red wire in the ignition switch.
b) radio can be operated any time - you can take the power form fuse 1 (permanent power). I would take it from the supply side and have it go through auxiliary fuse box (e.g. the one next to regulator or the one next to brake booster support, if not used, or any other, e.g. in-line fuse solution). There are pros and cons of this solution - you can listen to the radio anytime you want, but you may leave it on accidentally...
c) radio can be operated when ignition is on - then you start from fuse 2 for example and run the wire through an auxiliary fuse box.
Automatic antenna should be powered at all times.
I am not sure about the black live wire...
The above is based mainly on 280SL experience.