I spent quite a bit of time thinking this through for myself. The answer for me is a slung 19, left side. I actually bought some awesome zeagle pony bands for back mounting the pony, but I decided that when soloing I needed full access to my bailout bottle, hence my decision to sling. The link below is one often used on scubaboard for how to sling a bottle....works great.
DIR-diver.com - Stagebottle rigging
For a reg, I bought a used Conshelf XIV 1st stage on ebay and had it overhauled by my LDS. This reg has a bulletproof reputation, which is exactly what I wanted, and buying it used, even with the cost of the overhaul, was still a good bargain. I put coupled it with a Tusa Platina II 2nd stage octo regulator on the end of a 22 inch Miflex hose. The Tusa is nice in that you can attach the LP hose to the left side of the reg, which is nice when slinging from the left side. The short 22 inch hose is nice to bungee to the bottle, but plently long enough to deploy, especially with the hose on the left side of the 2nd stage. The only way I can see to improve the setup is to find a metal, rugged, simple, reversible second stage (the platina is plastic), so if anyone has a suggestion I am interested.
I experimented with a button SPG and a mini SPG on the end of a thin HP hose, but in the end I went with no gauge at all. The only thing coming out of the first stage is the LP hose to the second stage. I check the pony pressure by putting my main reg set on and pressurizng it before each dive. As long as I know the pony is full when the dive starts that is enough for me, and since it is slung I can see it the entire time so I can detect a leak if one occurs. I also reasoned that if I ever had to deploy the pony for real, the dive is over and monitoring the gas level at that point was superfluous, I was ascending to the surface as fast as safely possible, period.
Diving with a slung 19 is really simple. It completely disappears when underwater, and 19 cu ft is plenty of gas for me to ascend from the depths at which I solo (60 feet max) and then some. I also sling a 13 in the same manner, and I actually prefer the 19, as it lays better in the water. I use the 13 for travel, but prefer the 19.
Just my .02, on how I approach the pony setup when soloing. I am open to critiques to my thought process as well, I can always improve, so let me know what you think...
Rob