yep, holds the boom up. The guy I bought the boat from said that any halyard noise at their club would result in cut lines (friendly place), so it's silent anyway. It doesn't seem to have affected the line strength as I believe the line is original (1991) and I certainly can't break it (sometimes it pays to look up while hoisting the main in case the battons have caught on the rear trap line). But then again, there's the latitude factor . . .
I can take up the slack on my jib halyard by cleating it through one of the downhaul cleats at the base of the mast. My jib halyard runs down the inside of the mast, so this probably doesn't apply to too many others.
While sailing, I also have the pockets in the tramp.
Al