I like the idea of being able to switch to the torch more easily.

But as an alternative, you might want to check out the "Light" cantrip that Shadowheart can get. Gale might be able to get it too, but I'm not sure. Anyway, she can cast it on herself and the other party members and it makes the items in their hands glow with light.

Cast that on all party members and there is no need for torches. And no worries about entering combat without a weapon or shield in your hands. No losing the light when you swap back to your weapons/shield. Though if you have a character that switches between melee and ranged weapons, you will want to cast it on them twice - once with their melee weapons equipped and once with their ranged weapon equipped. That way they don't lose the light when they switch.

It eventually runs out, but it does last a while. Just refresh it between fights. And as a cantrip, it doesn't use up spell slot.