In my experience if it isn't already reeved when you need it then it is too late. Boat is bouncing, boom is swinging, something else is going wrong - not good. Don't invest much energy into the ability to reeve late in the game. Near home if you want to stow the reefing lines that's fine. In fact that is what I do. Don't kid yourself you'll be able to re-rig.
Offshore I leave all three reefs fully rigged no matter how light the air is.
sail fast and eat well, dave
beware "cut and paste" sailors.
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