JV,
Yes, Neutrik and Swichcraft 5-pin connectors are supposed to be compatible. I've changed all my cables, basses and power supplies over to Neutrik so if you're feeling particularly productive you could switch out the lot...
I'm still using some old stock of Belden 8424 I have so I don't know how it works with Canare or other wire. You need 4 conductors in a shield (screen) and the shield connects to pin-1 on both ends.
As a self-taught soldering guy I don't have any legit advice to offer but I can think of one pointer I discovered through trial and error... When soldering on either plug I would suggest inserting the partner at least part way to help keep the pins aligned should things get too hot. Just a habit I got into after making a cable once where the pins had moved because I had melted the nylon component holding them in place. See, I only know enough to get myself into trouble!
Also, check very carefully to be sure there was no solder overflow between adjacent pins, tolerances are tight in that small space. Best to use a continuity checker to be sure the pin numbers match up on both ends (mirror images) BEFORE you plug in the instrument.
Good luck!
Jimmy J