My two penny worth. I grew up in the days when glow plugs needed 2v and we used wet cells, ex govmt if you could find them. I still use 2v but with modern jelly electrolyte cells. Usually Cyclon 2v 2.5Ah D cells. I can't say my engines start more easily than using 1.2v, nor do I burn out lots of plugs but I would suggest that the higher temperature will burn off excess fuel better if I flood an engine. I still carry a glostick in my pocket for flight line engine stalls.
I have made servo driven switches but prefer the ease of adjustment of an electronic gizmo. I use one from a company that specialises in bits for robots because it uses a 10 amp relay. If I was as clever as you guys I could post a link to it here but Google ActiveRobots and you will find it. The call it ServoRelay XL. It is about 20 quid but well made. OK. OK 20 quid. You can buy several new servos and micro switches for that.
Regarding driving an LED, I do it slightly differently and use a tiny postage stamp size board costing 80p from China via Ebay which takes 2v in and gives out 5v. The circuit uses an oscillator driving a ringing inductor the peaks from which are rectified and smoothed to give the boosted voltage. How can they make these things for the money? Trawl EBay if you want one. I cannot say if it will work with 1.2v though but could try it anyone was interested. Also I don't see any point in a separate switch to override or isolate the system. If your engine is set up properly it will start easily at idle settings.
I love this forum stuff, you pick up all sorts of different ways of doing things so thanks to all the people I've cribbed from. Mike.