Dave,
Yes, I'm using the 'stock' righting system - though I replaced the original line with one that's a little longer. We used the 'over the top' (line tied to dolphin striker) on our TheMightyHobie18. I think the only advantage to 'over the top' (assuming you haven't turtled) is that you don't need as strong a grip on the righting line when you lean out. The righting moment is the same, but the line tension is a little higher with the stock system. I like the idea that's been brought up to hook into the righting line with your trap harness.
The EO snuffer functions very well (launch and retrieval are quick and easy), but it is pretty ugly IMO. I chose it because bag launching just isn't an option for us, and the skunk wasn't out back when I bought the EO snuffer. I'm not sure what I would do if I were making the decision now. The EO snuffer is less $, but doesn't look as slick. In the conditions we had at SF, I didn't feel like it was slowing us down or keeping us from pointing relative to the other T4.9s (the others were skunkin' or bag launching). However, many of us are new to the boat, and this was just one set of sailing conditions - not a very objective test. Windage/pointing issues seem to provide the strongest arguments in favor of the skunk (I've heard the weight placement argument, but don't feel that it has much merit).
Kenn Newbury