We can use key binds, yes...although I use Voice Attack for most things from lowering/raising the gear to pip management, targeting/subsystem targeting and changing fire groups...most functions not directly involved with pointing and shooting really. I can also make my own custom commands to suit...like opening EDDB or Inara on my second monitor or sending custom text messages in the Quick comms window in game.
Targeting subsystems is simply a matter of saying "Target the powerplant/FSD/Drives etc..." and voice attack does just that, or saying "Target next hostile and target the powerplant."...that sort of thing helps a bit. I can even ask ASTRA (my voice attack HCS pack ships computer) to ask for docking permission, to plot a route on the galaxy map, scan a system... you get the idea.
Voice attack is especially useful for SLF commands since I can launch/recall and give the fighter orders without pressing a button or looking at a menu screen...
The FA off thing is just a personal preference, mouse and KB or not...I only use it occasionally in combat, same as most Xbox, PS4 or PC players. It's knowing when you need to use it and when you don't thats the trick
Generally, the HOTAS setups some of us use on PC are slightly more accurate than the HOTAS One or the Xbox controller is too...as well as having a shedload more buttons and knobs to play with. I use the Saitek X56, which is pretty good, but I play a few flight sims as well and not just E-D exclusively.
I'd better not even mention the Tobii Eye-tracker...