What is the input to the small switcher? If it is less than 40V then you can just supply the 2575 directly.This small switcher is a fixed 12V\ 5W unit. with 77% efficiency 2575 can out put 5V 0.32A ?? correct ? (0.42A x 77% = 0.32A )
And the efficiency is power efficiency, so you can get 77% of the input power into the output drive, which would give you about 770 mA. Think of a DC-DC converter just like a transformer -- if you double the voltage at the output you can only get half the current, but if you cut the voltage in half then you can get twice the current. That's if it's 100% efficient. Whatever current you can get at 100% efficiency you multiply by the efficiency factor and that is what you can actually get. So you have a step-down factor of 12V/5V=2.4. So your 100% efficiency current output would be 420mA*2.4=1A. But with an efficiency of 77% you would only get 0.77A.