Dude - can't wait to see that boat on the water again... I like the way Matt thinks.

I have to agree with what folks are saying about the bungee pulling up on the ring. The adjustable idea has its applications, and I'm sure you'll work out something that fits your need. I've sailed with both, but when setting up a 2005 Tiger (which comes stock with the adjustable system for the crew's trap) I took it off. With the handle rings, there are two places to hook in if I need to get my butt out of big waves, and I grab the skipper's trap if I'm on the wire downwind.

You're basic point, though, is the most valid one - set it up for what you prefer most. Tinkering is fun. Walking around the beach at Worlds gave me the opportunity to see how people from around the world rig stuff - Peter Dubbelaar (crewing for Steve Fields of Hobie Australia) was particularly helpful in pointing out some simple things that the Aussies do to clean up the tramp, eliminate sharp edges, etc... wish I'd had a camera handy.

Post a pic of whatever you work out.