Oh yeah, I'm using a null modem cable while working with 232. For that arrangement, it's straight through (5v-5v, Gnd-Gnd, Tx-Tx, Rx-Rx, RTS-RTS, CTS-CTS) from Port A to the TTL-232 adapter (powered via Serial A with P4 bridged), then I'm letting the null modem cable do the crossing over. Right now I'm just making the connections individually using f-f jumper wires, the plan's to make something more permanent later once I've figured out acceptable wiring.
I'm starting to wonder if simplifying my approach and going for the RP2040 VGA term board might be the better option. I'm mostly just trying to get the machine running standalone ahead of planned exhibition at VCF Midwest. (I was mostly hoping to use the VersaTerm to keep things consistent between the SC126 and a Duodyne stack that'll be part of the same exhibit. There's going to be a third machine involved here, but I want that to have graphics hardware.)