Matt..
That is an interesting way to do it... hadn't thought of that. It would certainly be strong enough for both ends, but definately for the snuffer end. I tapered both ends and it is a little slick on the snuffer end of the line- the last pull or two is core. The spyderline core is pretty smooth and I haven't had a problem with any burns either. Next time around I think I will try it your way.
for your halyard block, do you run a harken 29mm carbo block with the line bale(? correct term? the line that runs around the mast to hold the block towards the mast) running through the center of the block? I have rigged three boats like this (2 HTs, and my boat) and haven't had a problem in any of them over the last 1.5 yrs). All three have a tapered 3/16 halyard.