You are correct in everything you said.
The shielded cables are leftovers from the civi conversion.
I have a single separate Red Top in the tool box that has it's own set of circuit breakers for the radioes, cell phone chargers etc... A longer fan belt is necessary but keep the standard one around in case your 12 volt system takes a dump. D Man used a NAPA 9430 belt. We haven't changed anything on the 24 volt system at all, and you can put the original belt on and not drive the magneto at all.
This goes along with his mantra that all the bells and whistles on the truck can crap out on you and you still have a drivable machine. Important stuff when the chips are down.(Like with a Cat 5 storm heading your way)
Chuck