No, the cheato isn't going to die, it keeps growing and growing sucking up nutrients like nitrate and phosphate. It is a good strategy in my experience. If you have a way to add DSB it's helpful as well, just a matter of space and money for the fine sand. There really isn't much risk with DSB if you just leave it alone. Danger comes if you disturb it down at the the anaerobic layer but there 's no reason to ever do that. Beyond that all the normal wisdom prevails... clean out filter socks, vaccum sand bed if it starts gathering crud, good skimming, Decent amount of LR, don't Overfeed...
No one thing or even two are going to neccesarily get you to 0 nitrates but as has stated, you can have a very heathy aquarium with some nitrates.