Personally, I don't worry about the foot ...
I know what you mean and I thought about moving my life lines down for that very reason, but I would have to shorten the top life line and I didn't bother with it. In our case, 75% of the time we are sailing basically upwind or on a reach where the foot is generally inside the life lines anyway. When we do bear off on a broad reach or a run, the clew lifts anyway and the foot of the sail folds over the pulpit easily and I haven't noticed any wear. The photos show basically what I mean except that I don't have a photo on a run which shows the sail folding over the pulpit, but it simply isn't an issue in my mind. I would not bother with a tack pennant over that issue.
The bigger frustration that I have is how to set my sheets because of the location of my track directly under the life lines. For upwind sailing, I need to have them inside as you can see on the port tack (sail on the stbd side). As soon as I start to reach, the clew moves outside the life line and the sheet is on the wrong side. This puts a lot of tension on the life line to the point where the rope actually can burn the vinyl of the life line covering. When I run the sheet to the outside of the life line, you can see the problem I have when trying to sail upwind as shown on the stbd tack (sail on port side). I've played around with connecting a sheet to the outside with a separate snatch block but that gets to be a nuisance. It wouldn't be if we could set up for hours of sailing on one heading, but we set up for no more than 5 minutes before the shoreline causes a change in direction!
I agree with jibes that a 135 genny is plenty and more easily managed. I disagree that a smaller sail means a shorter luff. I have a 150 and a 110, both with the same luff length because both were cut specifically for my boat. The smaller sail merely has a shorter overlap and a much higher clew. The clew can be high or low, it all depends on the way the triangle is cut. On my 150, the clew is low, which gives me problems with visibility and the way i run the sheets as the photos show. It is also very difficult to manage the flutter on that lonnnnng leach. If I put much tension (if any) on the leach line, I get excessive cupping, which I don't want from a performance standpoint (besides I'll still get flutter in a strong breeze). If I move the fair lead forward enough to eliminate the flutter (moving forward puts more tension on the leach rather than the foot) I cannot achieve the twist that I want for performance (you move the fair lead back to increase twist). In winds below 15 k, flutter is not so bad, but I seem to have to live with quite a bit when the winds pick up and my leach is now showing signs of wear. You can eliminate these types of problems with a 135 genny and a higher cut clew (which shortens the leach).
To bring a long-winded story to a close

... I wouldn't even worry too much about these issues. I wouldn't attach a pennant at the tack of the sail because the way the foot may fold over it really isn't much of an issue (especially if you are going to work with an older sail). It's unclear to me if you intend to add hanks to your sails or shop for a used sail, but either way, you're gonna get what you get and you won't need to worry about what you want to specify. And all of the issues that you begin to notice are going to be relatively minor problems. Once you start sailing with what you have, you'll begin to learn your preferences and frustrations and you can make a better decision on how to cut a head sail for your desires. But no small problem is going to hamper your enjoyment of sailing.
You are going to be learning a lot more on your own as you hoist those sails on a regular basis in all kinds of conditions and headings! Enjoy!
