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1. The OP is using a yoke valve. It's the pressure in the cylinder that forms the seal, so it's less likely to leak if it's on
If it's off, you aren't likely to lose any air from a leak, though.
The argument is made that, if the pony is back-mounted, you cannot see leaks -- which is true, but you can't see leaks out of your primary tank, either, and we all live with that.
We have SPGs on our backmounted cylinders.