Carl-
I don't know who you are referring to in your description of the "Taipan system" sail raising (It's more accurately the "A" cat system since it originated and is still predominate in that top level development class)? This certainly does NOT describe the normal procedure for raising the mainsail on the Taipan/"A" cats. After struggling with internal halyards on Nacras, Prindles and Hobies (of which I have to say I much prefer the external halyard with a good old stop on the wire!) I personally love not having to worry about the halyard disappearing up the mast, breaking (one of my old 18sq. buddies was notorious for breaking external halyards- both the wire, stops and "hooks"- with his 20:1 downhaul!!), coming untied, getting the knot "right", etc. With proper technique (and no mud dobber nests in the mast!) I have not had problems and have done on the water even single-handed (but if I HAD to raise/drop sails on the water with the boat upright- since you can always flip and drop/raise in an emergency- I would like a good old wire external halyard). The Taipans come with a small block at the mast head for a halyard but most owners find no need for it in my experience. The Auscat and Flyer "A" cats do NOT come with even this small block.
My old 1986 "A" cat has an interesting halyard system- It uses a ring that hangs down from the masthead that engages a "hook" that faces forward and is bolted to the head of the sail. I use a 1/16" Spectra line as a halyard that runs through a tiny block on the side of the mast- so it's an external halyard but extremely small.

Kirt