http://www.rcuniverse.com/forum/m_7624327/tm.htm ... This was a very good thread and has some of your answers. I only use Castle Creation Speed controls and follow their instructions in the book they send with the SC. As well as now use the Castle link that allows programing the SC on the computer.
To briefly answer your questions, One end of your Speed Control has 3 heavy wires. These go to the motor. If you need to solder on connectors make sure to put the females on the SC side and the males on the motor.
The other side has two heavy wires and a servo connector wire. The two heavy red/black wires go to the battery. Install male Deans or other type with proper +-. Look carefully the plugs have +- marks, with Red+ Black-.
The servo wire plugs into the throttle channel of your reciever. No switches needed, the "bec" part of your speed control provides power to your planes electronics/control system through the throttle connection.
Run the motor without a prop to determine rotation of the motor and to confirm the servo travel for throttle is correct. Save mucho blood and bandaging if you follow this step correctly.
With electric's you unplug and remove the batteries after flying. So you do not need a switch. Never plug in the motor without turning the radio on first either. Or you might be loosing more blood and need more bandages because the motor might go to full power without a signal from the rx. For the same reasons unplug the batteries in the plane before turning off the radio.
What type of speed control are you using? If I don't know how it programs someone will.