I'm with Fred and Topher as well. There are 2 benefits that I find with this method. The first is that I use Vac Racs on my truck and move about my favourite rivers at freeway speeds, hooking my fly to the 2nd or 3rd guide leaves it pointing head into the wind which doesn't screw the feathers up. The second benefit is that this allows me to keep even very long leaders without having the flyline leader connection going into the tip top. Therefore, when I unhook the fly and start to pull off line I don't have to monkey around with getting the connection outside the tip.
Tight lines - tyler.
Still Living Large!