[BW28]

Vettnman,
Yes to chin weights under islanders
No to anti-chafe if you are rigging like your second pic, the hook will settle between the weight and anti-chafe and render it use less.
I rig just like your your #2 when I use 150lb leader and a sleeve that will let you hit it twice with the crimper. The only difference is that my pin is on the other side of the crimp.
If I drop to 100lb I use a rig like Jimmy's; all the crimps for 100lb, that I can find, only allow you to hit it once; so I like to have the 2 sleeves. With that rig it would be possible to use anti-chafe, but I don't.

If anybody knows of a longer aluminium crimp for 100lb please let me know.

BW28