Do you reef by pulling the boom up higher in the mast track? My main halyard has two "slugs", the second one allows for reefing and keeps the boom at its normal position. The halyard for the comptip mast doen't have a second "slug" and that is why there are no reef points. If you move the boom up to reef you lose some of the affect. Lowering the sail lowers the center of effort and reduces the leverage (turning moment) that would heel the boat. Moving the boom up would raise the center of effort. If you are doing it just for convenience with people on board it isn't an issue but if it is to depower, it is less effective.

Howard