I also have a clam cleat on the top of the cuddy for the jib downhaul. It keeps the downhaul line (1/8") taut so it doesn't flap while under sail. Once the jib is down, the cleated downhaul keeps the head of the jib from "climbing" the forestay. If I'm still sailing under main alone, I sheet the downed jib to the windward side of the boat to keep it out of the water. In my case, I don't have a crew to "Send forward to...." so that's the best way I've found to keep it on the deck. Once all sails are down and I'm at anchor, I use a mesh gym-ball drawstring bag (Wal Mart, Dick's Sporting Goods, etc) as a "sailbag" for the jib. Slide it over the jib and cinch up the drawstring and it keeps the jib contained while allowing it to dry.
Love the idea of the reverse-purchase bullet block. I'll be giving that a try.