don't use a switch, no matter what brand, they all end up failing. the perfect regulator is the best option, bc when it fails, it fails on, not off...
for the n5c, one lead into the unit should be fine, I have run N7's like that before when doing testing, and flew them hard. BUT, you don't want to constantly put a connector on the unit and pull it off, you will wear down the plug, and the prongs in the unit.
what I do is make a harness with an EC3 at one end, and 2 servo leads at the other. all soldered together. I use about 4" of small braided wire, like is coming out of the RX pack originally, to solder the EC3 to, and then I convert to servo wire at that point (the largest servo wire you can find). you don't want to be pulling on the servo wire/braided wire joint a lot, it can break if so, so use enough braided wire that you never have to pull on it. I also take the EC3 that I put on the harness, and fill the back of it (where the wires are soldered into the bullets and stuck into the blue plastic) and fill that area with hot glue. that will help keep the wire/solder joint from being flexed around a bunch also.
by keeping it simple, you are eliminating failure points. I have a few backup guards, but I don't have them installed, I have only even had one instance where one would have helped me, and it wouldn't have saved me anyway really, just kept power to the servos until I hit the ground....not saying don't use it, by all means use it if you have it, just try to keep it as simple as possible.