That design is going to have a lot of extra unnecessary friction in it...making reefing the sail securely tough... also, depending on what
line you're using, it's going to have a fair amount of stretch, making it hard to reef properly. Finally, it's gonna take a fairly long time for you to haul all of that
line in to reef.
You'd be much better off with a two
line reefing system, since you've basically got all the pieces you need for it except the second
line.

Might need a few more foot blocks and
line clutches.
A two-line reefing system is usually faster and gives you far more control over the shape of the reefed sail. It also sets the reefed sail up better. You can read about why this is
HERE.
__________________
Sailingdog
Telstar 28
New England
You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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