To answer your question about the manifold: It is an antique. It will manifold 2 tanks together but it only has an outlet for 1 (yoke) reg. No redundancy whatsoever and a whole bunch of extra failure points. 1 large single tank would be safer than 2 smaller tanks with this manifold.
I dont recognize that valve, but it that looks like a fairly nice vintage valve.
Two smaller tanks will balance a lot better than one large single tank. And it brings the center of gravity of the tanks closer to you.
Those few extra failure points are extremely low probability of failure. The center manifold to tank fitting connection looks like brass metal to metal seal. If you get an initial decent seal they seldom leak and even if they leak it would never be catastrophic (it would just be a minute leak).
Heck, if you are really that concern about failure points, you should switch to a double hose regulator. That extra LP hose between the first and second stage adds 5 higher probability failure point.
Most Scuba gear is very safe. Even with the high parts count and high O-ring count on modern gear, it is still very safe.
In very few situations do you really need redundancy.
In any case:
IMHO, diving is not only about safety, it is about having fun.
Sometimes you need to live on the edge
if you are not living on the edge
you are taking too much space.