I don't know about the knot issue, I've never lost a fish at the knot and don't make a big issue of tying one. I just make a point to tie whatever knot I use properly.
I try to keep things simple but to each their own.
I do know that using a 3-way swivel set-up is hard IF your paddling solo.
I've done it and more often than not when I reeled the rig in, it was a tangled mess.
Problem with the 3-way is that you you can't really be sure it running properly without checking it frequently, which is a pain and not something you want to do solo.

I've found that a keel weight of varying weight works well solo and you can use a snap swivel at sinker end and the same on lure end.
I like a shallow diver/floater with this rig as the keel weight does hang up easily and the lure rides at an upward angle which keeps it from hanging up.
A little experimentation will tell you what size weight will get you to what depth.
I have 1/4 oz thru 1/2 oz.