G, V and S is correct
Be careful when connecting to them to make sure that you get the connections right because the signal pins are closest to the edge of the shield on one edge and furthest away on the other. I changed the colours of the plastic pin bases to make it more obvious and to prevent accidents
Please pardon the crappy 'photo
That is not a transistor, rather it is a voltage regulator. You can power the shield and the Nano with 5V through the barrel jack but I have never bothered and have just used the USB connector on the Nano as usual. The voltage regulator is there to provide the 3.3V for those pins