I've also wondered why they even put a toggle switch on PSUs. It sits right next to the power plug which is just as easily pulled out if you need to cut power (pulling the power chord out of the PSU is probably better anyway). Bypassing the switch shouldn't make a bit of difference as far as I know.
Main: i5-3570K, ASRock Z77 Pro4-M, Asus GTX660 TOP, 500GB Crucial BX100, 2 TB Samsung EcoGreen F4, 16GB 1600MHz G.Skill @1.25V, EVGA 550-G2, Silverstone PS07B
HTPC: A8-5600K, MSI FM2-A75IA-E53, 4TB Seagate SSHD, 8GB 1866MHz G.Skill, Crosley D-25 Case Mod