Rich,I have the original system that came on my 1976 O'Day 27. It is bolted directly through the cockpit seats 2-3" from the companionway bulkhead. It is a straight aluminum traveler and does not use any risers. I don't have much to compare it to. My 25 had a similar arrangement, but it works well. The companionway option might work better when you really want to let the boom hang out on a run. With my setup, the main sheet ends up rubbing against the coaming/cabin side. In light winds, I sometimes need to push the boom out by hand to overcome the friction. Overall, I'd rather push the boom out once in a while instead of hitting my head on the traveler while exiting the cabin.Another user on this forum installed a traveler system over the companionway to add dodger or a bimini top. The original location was in the way of the new canvas. I can't remember which boat this was regarding, but clearance may be one of your considerations if you have, or plan on adding, any auxilliary canvas.Good Luck and Smooth Sailing!