Not For Me
The cow's hitch may be ok for a dinghy but on a larger vessel, if the sheet separates, you lose the whole sail with no way to bring it under control.
I will continue to use two bowlines but be careful. In a breeze, the bowlines are dangerous. In 25kts, I was knocked to the deck after being hit in the temple while adjusting a genoa car. Last year in similar wind, my wife received a 12" bruise on her thigh after being hit during a tack (she was real proud of her trophy). The lesson is to stay away during a tack.
Sabre 38 "Victoria"