I'm not sure it would be a good place for the ignition key, but I don't like the acessory socket there either. The acessory socket needs a blanking plug of it's own so when it's not in use, the hole is closed up keeping water and gunk out. Sorry, Pigger, my opinion for what it's worth.
My Bonnie has the ignition key on the side of the headlight and there is a reloacting kit to move it under the tank.
I'd prefer a keyless R3. You'd think with the computer wizardry you could have a remote, no key, start
If you put the ignition key where the acessory/blank plug is, you could only have one key on the ring and nothing metal or it would swing back and forth and scar the plastic panel.
Incidentially, my brother-in-law has a Windvest and personally I prefer the Triumph/NC windscreen. Windvest is like Corbin, overpriced and not much to it. The ignition and fork lock both work fine with the Triumph windshield. Obviously, the Windvest is a generic fit.