Thank you Billy for the quick response.
I am installing a Garmin 546s. Like I said my idea is to tie directly into the fuse panel positive terminal (the wire that supplies the panel from the battery) with the red + wire, which has an inline 3amp fuse, and attach the black - wire to a spare ground terminal on the panel. The fuse panel is right behind the dash where the GPS is going.
The switch would be between the fuse and the GPS. Which would allow me to secure power going to the GPS but I am not even sure that is needed, after all you turn off the GPS, but could be useful if I wanted to remove the GPS for security reasons.
I really do not want the GPS to be on a shared terminal with another accessory, especially if the other accessory fuse was larger then 3amp.