I only put the second loop in the tail of the spectra so a knot wouldn't get hung up and/or untied while racing.
Now, as for running the spin sheet through the block at the rear beam, I used to do it that way, but I found myself constantly sitting on the sheet at some point, either while snuffing or raising or gybing, so to keep the sheet up at the front of the boat, I don't run it to the back of the boat anymore.
One other thing; At the Tradewind regatta, I was at the far back of the boat trimming the spin while Andi drove. At that time I had the block on a bungi at the rear beam to keep everything neet and tidy, as you guys have described. BUT, I found when I was sitting all the way at the back of the boat, I ran out of spinnaker sheet, as that block-bungi setup was pulling it sideways and taking up too much of the lazy side of the sheet. So in-between races, I untied the block from the bungi and it was much easier to trim without the block pulling on it.
Now mind you, this was with my spin sheets set up like Terry's above, tied at the clew, not on the tramp as I just described in the pig-tail set up. I don't know which setup I will stay with, but I like to try different things and see if they work. <img src="http://www.catsailor.com/forums/images/graemlins/grin.gif" alt="" />