The reason i went with Speakon was reliability. They are bomb proof, and to be honest in all my years of playing (too many to mention) I've never had a speaker cable fail.
To be honest it's probably my job that makes me like this..... I always think ahead " what can go wrong"?... I then think of what I can do to prevent it or minimalise it from going wrong. Hence the Speakon and Powercon connectors. They're industry standard, and are used on pro rigs for one reason..... They don't go wrong. Jacks can be pulled out if they're not in a locking socket, and the strain relief isn't as robust as a Speakon connector. When I wired the Speakon connectors I also terminated the wires with ferrules, like this:

These ensure that the wiring is properly terminated before being wired into the Speakon connectors. I did the same for the Power cables.
Saying that i'm thinking about changing the powercon connectors over to Powercon True1 connectors. The reason? The standard Powercon connectors can't be disconnected under load, in other words you have to ensure the mains is turned off at the wall before you unplug them. Thinking ahead, it's only a matter of time before I forget, or someone helps me tear down at a gig and doesn't know the implications, I can end up in all sorts of trouble. The Powercon True1 connectors can be unplugged under load with no issues.
Regarding if a speaker cable does fail..... You should carry spares, I do. I actually have 2 spare speaker cables terminated with 1/4" jacks at each end.
I also have speakon jack adapters so that they can be used in my rig,

Therefore i can loan the cables out to somebody who doesn't have a spare speaker cable when theirs has failed....... maybe you

I always carry about 20 foot of instrument cable, and 3 or 4 straight and right angled jacks in my gig case, along with a multi-meter, basic soldering iron, spare amp fuses, spare speaker cables, adaptors (as above), so if something does go wrong i'm covered... Also It's pretty good when you can bail out someone else at the gig who isn't prepared.... You normally get a free beer

The patch panel was another "thinking ahead" thing.
Once the rack is all wired up, you don't really want to disturb it once all the cables are zip tied up etc. The patch panel ensures you have easy access, without disturbing the inside of the rack. I've seen lots of racks with the patch panel on the front, which is ok.... But my thought was, if it's on the front i may tread on a cable and damage it. If the panel is round the back you can't tread on it accidentally and pull the cables in their sockets. I probably sound like I have OCD
