Not going solo yet, but going to be buddying up with unfamiliar divers in cold water, so having redundant air seemed like a good idea. I agree with you though; if I was going solo, I'd put the pony second stage on the necklace, leave it on (since I'd notice a freeflow under my chin), and skip the octopus.
Yup, that's one option, but not one that I would prefer for OC. I would just sling your pony and keep the second stage bungeed to the tank, charged and off.
As I mentioned, if you are slinging a pony, you should have no problem puling the bungeed second stage from the tank and turning on the gas. A slung pony like this (as opposed to having the second stage bungeed around your neck) also gives you the option of handing the whole thing off to a diver who needs gas, or if you prefer just donate the pony second stage and keep the tank clipped to you. And it's a more streamlined configuration, since if you are putting the pony reg on a necklace, the hose needs to be precisely the right length or it will either tether you or create a hose loop.
So since you are carrying a 40, why not just dispense with your back gas octopus? Why do you need it, even if you are diving in a team? If someone needs gas, you have it for them in the form of a completely redundant scuba unit that you can donate completely or just donate the reg. Far preferable to the "standard" single tank configuration of donating half of your only gas source with an octopus.
Why dive with three second stages when the extra one is just something else to free flow? In terms of gas loss, a free flow is a way to lose a large volume very quickly.