Jeff Bozanic agrees with the OP . . .
“Ideal” Manifolds… Not So Ideal?
I think it's really difficult to do anything but argue opinions on this topic. The failures that require isolation are so rare to occur DURING a dive (and failures of the isolator or manifold even rarer) that coming up with any statistics is difficult. There is no question that diagnosing a failure is easier in sidemount -- and no easier in backmounted independent doubles, nor are the valves easier to reach that way. The failures that lose you half your gas in sidemount are as rare as those requiring isolation in backmount. The difference is that, to use the gas in the cylinder with a regulator malfunction in sidemount, you have to feather the valve, which can be done (I learned to do it in my sidemount class) but I wouldn't want to have to go very far that way.
There may be some increment in safety in one setup or the other, but it would take a long time of gathering careful data to find it, I think. What I do believe is that independent, backmounted doubles is the worst of all possible worlds, because you can't see the valves, you still have trouble reaching them, and you don't offset that with the manifold's ability to access both tanks if a regulator malfunctions. If you want independent tanks, set them up where you can see and reach them (at least that's my take on it).