Yes...it is designed for a 2:1 purchase ahead of your tackle setup... You dead end down low near the backstay padeye/tang, run a line up thru and put some purchase on the other side, and have it terminate at the other tang. In my opinion, that tang in the middle of the transom, originally designed to terminate your backstay purchase is useless because then you can't walk thru the stern pulpit without getting all tangled up in the tackle & lines. If it were me, I'd remove it...fortunately, my boat never had one, just the old stern light in the way to trip on.
edit - If you check out this pic, you can just see the Garharuer unit I have in the top of the pic. You can see the adjustment line running parallel with the split backstay...add your tackle to either side (or both so you can adjust from either side if you have the $$ to build two tackle systems.) I think this is a much cleaner set up than the standard down the middle attachment. Personally, I haven't even needed additional tackle yet..the 2:1 has been plenty so far...You already get some mechanical advantage since you are squeezing the wires together. I am trying to remember this is a cruising boat, so I tend to keep my systems simple..any adjustment is helpful to improve the sailing based on the conditions, but I am not racing.
Our boat is "med moored" (stern in, no finger pier), so when I replaced all the standard rigging last year, I moved the split up to 12 feet, so I could walk thru easily without banging my head..now, if I just had the fancy Mark II stern pulpit with ladder, & figure out a good way to keep the water from staining the hull at the deck drains, I'd be all set! :dance: