I had done basically the same thing as Jordan's page describes.
I'd keep the 2 plugs in the mix unless you only ever plan to own one battery. You never know when you will want to hot swap a battery, or need to use 2 smaller batteries when your wally-world one craps out unexpectedly.
Having the extra connector there is no drawback, and with a little care (and some heat shrink) the extra large splice at the "Y" won't cause any problems.
I know I over prepare, but I just re-did all my power cables to accomodate my new svu-1.
I was going to post pics in a new thread about my new gear bag set up, but this came up first.
I've got power cables made (all parts from radio shack) so that all my gear (UA-5, SVU and radio shack version of CO2) can be run off any of my power sources. I've got 4 rc car packs, the wallmart dvd batt, 2 sla's and a project box for AA's which puts out 9.6 or 12 depending on if I use rechargeables or regular AA's.
I made cables that go from adaptaplug M to rc pack F so that the AA box or the sla's which are hard wired with adaptaplug F leads can be used with the gear which is wired with rc pack male.
Right now all 3 pieces run off the dvd batt, but with the use of an adaptaplug y cable I can power the ua-5 with a 12v sla for festivals, leaving the dvd to power the converter and meters.
Anyway. Long story short. Follow jordan's plan. Another thread and pics to follow.
JAson