I truly do not mind having everything separate. I seriously DISlike how WDW does it, with everything linked to one (faulty) bit of technology.
And especially since they would have to link two totally different companies, which would be likely even more faulty than WDW's system, it wouldn't be fun.
This is especially a hassle when using Hogwarts express where everyone has to pull out the paper tickets and show line worker the tickets. Would be so much easier to just swipe the card with P2P access at a kiosk or such while entering the terminal. We do keep them all in a lanyard but when it rains or gets wet, those paper tickets are goners.
Why are you getting the paper tickets? Or do you think the credit card sized tickets are just paper? They are a paper Tyvek mix; Tyvek is the waterproof house cover stuff that goes under the siding. It keeps them relatively strong and relatively waterproof.
If you are getting the print-at-home, consider will call. Will Call allows you to get them at the kiosks, and it's the paper/tyvek combo. If you really want to do print at home (like if you're buying from UCT), print out several just in case.
We have APs now, and I hear we'll get plastic ones next time we get there, and they are the paper/tyvek. We started off with normal tikets sent directly from the resellers (we've used both maple leaf tickets and undercovertourist).
I have a Witz brand hard plastic, waterproof, lanyard case. I put the EP on one side to be scanned through the case. And I have the pass (but it used to be a ticket, before we all upgraded) on the other right next to our room key*. It's not an issue to simply take it out of that case to be scanned when we want to enter a park. It's easy as anything. Easy as putting on some toddler-style plastic bracelet, that's for sure.
And between those two cards I have a CC, ID, insurance card, and some cash.
*as we approach the gates I pull both of those out if it's early entry, scan the ticket then show the room key when needed, then I put them away with the ticket on the outside b/c I won't need the room key until we are back at the hotel but might need the ticket if we hop.