P5 - "Switched" setting or "Always on" setting

I have just purchased a P5 unit to power my PWT, DAC and headphone amplifier. Should I set the power setting to “switched” or “always on” with respect to components like my PWT and DAC, which can be on standby mode? Does choosing the “always on” setting mean that the P5 is working harder during the time period when I am not listening to music, which could then result in a shorter life span of the P5 unit?

You can leave the outlets on at all times without any issue.

Many feel DACs should be powered up at all times to sound their best.