You will also find that having the reefline go just from the boom and to the reef cringle, without going back down to the boom causes a couple of other bad things. 1/The boom will tend to droop, so you may not be able to sheet it in all the way before it starts to hit the dodger, cabintop, or the heads of crew in the cockpit. 2/As Sailingdog mentioned above, the leech will be looser, because there is less downward component pulling on the clew. When the wind pipes up and you want a reef, you want the sails to be as flat as possible, not loose. On a positive note, taking the end of the reefing line
back to the boom can also help to bunch the sail up a bit, so it doesn't flog so much. We have ours set up this way, and it is quite simple and effective.