I adapted the Z-system to my Ranger bp/w. I am the only SM in a sea of BM buddies, so the set up works well for me. I have isolatable distribution block/manifold, but also bungee a 40" hose and 2nd stage to each first stage for redundant redundancy for emergency use. If something REALLY bad happens, unplug the QC6 and breathe from the emergency reg. YES, I know then I basically have the original SM set up, but the key is using a system that works for your style of diving. There is no ONE SYSTEM.
I think you are on the right track but to be really safe wouldn't it be better if you had long hoses on all your second stages? That way if your OC buddies had simultaneous failures you could donate gas to all of them.