Hi,
The check valve is downstream from the regulator and stops water siphoning back into the regulator when the gas is switched off. The check valve would also therefore be downstream of any solenoid you had to switch CO2 off at night.
I've used the JBL sets and they are very good for the money and widely available (good when you need to refill the bottles often). They have dual gauges so you can monitor the bottle pressure and the working pressure and the solenoid is also straightforward to fit to the regulator. I've had no problems. I've also used a Dennerle system with disposable bottles. Nice build quality and the solenoid is quite smart too, with a little green indicator to show when it is open. The thing people often end up changing is the diffusor-the JBL one in particular is quite an ugly piece of kit to have in the tank (does the job though).
Nick