I want to incorporate something like a simple lever switch from skyrim, the kind with a rod that is pushed/pulled from one side to another. Would it be better to rig this model and somehow rotate the lever around a joint, or would it get the job done more easily by hardcoding a Transform.RotateAround()? Are there any clear advantages one way or the other?
I would recommend whichever option is easier for you to use.
For me, as a programmer, I find it simple enough to reason about the rotations in code. I can set up tweening so that the lever turns smoothly (probably with iTween or some other plugin). If I like, I can set up multiple lever positions on the fly.
For someone who’s more practiced as an animator, maybe that’s more in their comfort level. It seems less versatile, to me, and I would normally assume my animation team has better things to be doing (like characters).
But… that all depends on your skillset and needs. Do what works, first.