I've always used the ignition on all my bikes however when i got the ape i played around with using the plasticky piece of crud that is an rsv killswitch.
Not long afterwards my bike would intermittently cut out and not restart until i stopped (i once tried to hold in the clutch and free wheel the bike in gear then dump the clutch to restart it, never again on a V twin, rear wheel locked as i rear wheel steered the next bend!)
After reading a few posts i dismantled the killswitch pumped in a load of WD40 and used the switch about 50 times to clean/ lube it, after that no problems to date (touch wood).
The 'possible' moral I'm conveying is that if you don't use the killswitch regularly then just leave it alone, especially if your bike is left outside or used in the rain a lot.
I love these type of posts, it's up there with the 'which sock do you put on first?' debate.