I just happened to be thinking on my last sail if I should cut my traveler line into two. As one, you can release the opposite side without reaching for it, but you still can't cleat it. But in 7+ years, I have never released it from the opposite side. The negative, you have an extra 5' of line reaching across the cockpit that can get tangled up with the cup holders. Either way works, but it is a matter of preference. Anyone cut their traveler line on a C275 and prefer one way over the other?
I have not had a problem with the mainsheet as I just favor one side or the other when sheeting in to balance it out from the last sail. I would be more concerned with splicing as it won't flex as easily and will probably add resistance as the splice moves through the blocks. It won't be dramatic, so it will be a personal preference. You can always undo the splice if you don't like it.