Thanks to all for the info, I feel a little more confident going ahead with this project. To Jackdaw, I haven't seen this configuration and am not sure what a halyard restrainer is. is it like a second block?
A halyard restrainer is primarily a device to control "halyard wrap" on a roller furling device. In it's basic form it is a clip or small eyestrap, mounted a few inches below the sheave on the mast. I've pictured a couple of solutions below. With the halyard run through it, the restrainer keeps the swivel in line, rather than following the rotation of the foil extrusion.... and thus keeping the halyard from wrapping around the headstay.
I'm not sure how they would apply to a spinnaker halyard, unless it was an internal sheave, perhaps. I'm hoping Jackdaw could be more detailed in this area, because I'm interested in learning how it works also.
Normally, an externally run spinnaker halyard would employ a swivelling block at the top end. On a fractional rig, I have seen them setup with a mast "hound"
http://shop.sailboatowners.com/prod.php?14154 to distribute the force better, then a swivel block is shackled to the hound. The shackle insures full motion with the swivel block(like a toggle) , so the block can slide in the direction of the sail's pull.