Follow local custom; we spent four months in the Abacos over the winter 2007/2008 on one hook and 90 feet of chain, as did all the other boats in the various harbors where anchoring was the preferred method.. When visiting settlements that used mooring balls (Black Sound in Green Turtle, Hope Town, and Settlement Harbor on Great Guana Cay) we joined the group and paid for the mooring. Man O War Cay had both systems going on. At no time did anyone use the "Bahamian Mooring" double anchor method. Anchoring bow and stern is fine IF you can be assured of a 180 change in current with no cross wind and you are the only boat in the anchorage. Otherwise, as the old song goes, you aint got a thing if you don't have that swing.
Steve