With a custodial wallet like WoS, you don't need to worry about opening a channel with a base chain transaction, or channel size management? Correct?

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Yes. That's correct. That's why wallet of Satoshi is so simple to use. They take care of everything for you.

I tried using other wallets and opening up my own channels but things went bad. Something I realized is if you run your own channels you might need to keep your wallet online 24/7 or the lightning node that you are conected to will think you are offline and close it.

It happened to me and the closing fee was quite high.

I normally turn off my phone at night and other times. I might have to run my own node from my desktop computer instead of my phone or something else.

In still learning but wallet of satoshi is very convenient.