this is a good option. that way it turns off and on with your other power.
another option is to wire a powerbar inside the cabinet and plug everything into that. that way, when you hit the main power switch...the bar gets power and your power supply for the game, speaker adapter, and monitor all get power at once.
ADDENDUM:
the reason powering it with the power supply like i mentioned won't work in this case is because the shield of the audio output jack of the computer (or xx-in-1 board) is tied to ground internally on the board. that means all the black wires in the powersupply and all the exposed metal on the chassis are tied to the black "ground" connection. (this includes the USB and the shield connections on all the IO ports and monitor connectors...even the metal case itself.)
when you power it with 7 volts from the power supply...the audio input plug on the speakers is also integrally tied to ground. (to keep noise from entering the audio amp and causing buzzing.)
when we power it with the (-) lead attached to the 5 volt line to get 7 volts it is effectively attached to the shield of the connector.
if you leave it unplugged, nothing would happen the speakers would operate normally (plugging an mp3 player would have it working fine)....but as soon as you plugged it in to the ground sheilded audo connector on the board, the power supply would shut down (hopefully) because the 5 volt on the shield now is being attached to ground and shorted out. worst case scenario is the power supply continues to power the 5 volt rail and melt all the wires into a fiery mess.
CONCLUSION:
powering items straight out like fans or LED's or motors using a mixed supply like this is fine. but not for anything that is attached BACK to the computer through another connection (IE: audio,usb,serial,video,etc.) or anything that will be attached or touch to the metal chassis of the computer. (because the screw holes on the board may be tied to "ground")