This is currently set up to run external to the mast. It leads back to the centreboard and is on a standard cleat. We will try it like this.
It seems that modern boats have a pump cleat and a bungee that does several laps of the cockpit perimeter. The advantages of this is that the host is one handed. The helm hoists with the other hand for the tiller. The bungee tidies up the halyard tail.
There are most likely clear advantages for speed of hoist and keeping control as the breeze gets up. Since we are not one design fleet racing, and will not be out in heavy air (if we are we will leave the chute in the bag) we may not need this. I am drawn to the cleverness of this system though.