Mark,
I agree. Tethers are a separate issue. The chicken line that you describe seems to be very similar to the one shown on the LexisNexis boat in the photos at the beginning of this thread. I don't know why I didn't think to just tie it off to the rudder pin. (I guess I just assumed it would interfere with the rudder.) I do like the LexisNexis system of adding an additional line to limit the stretch of the bungie, as well as Jake's suggestion for attaching the biner to the trap ring.