Power Circuit Project

This is the power circuit for my arduino project:
I'm going to use 5W resistors to be on the safe side. The idea is that I'll have an arduino powered directly from a DC source at 12V and 500mA. The relays will draw about 1.2A.
The overall goal is to mount the arduino and battery to an acrylic board, and wire in a banana-jack system. I'm going to make it a point to have the wires out of sight. Since banana plugs are much easier than breadboarding, I'll be able to test my programs with less of a hassle, at least that's the payoff I'm going for.
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I'm a math evangelist, I believe in theorems and ignore the proofs.
I didn't include the return-line, but there will be a plug-in for that too. I'll just put one current-limiting resistor there instead.
Since the load will be in series with whatever current-limiting resistor I use, I'll use a 5Ω resistor to minimize the voltage drop.
I might need to consider a voltage regulator to deliver 12V, or even consider using a rheostat to make it an adjustable voltage.
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I'm a math evangelist, I believe in theorems and ignore the proofs.
