Gary,
I take issue with this system. While it is simple, I have, on several occasions, found it more comfortable to shorten or lengthen the snubber. Also, if the wind pipes up, say in a squall or in a sustained gust, one cannot easily payout more rode.
Also, if you are caught in an emergency (think in an anchorage and a boat, which is windward of you, just broke lose and is drifting down on you...), with a fixed snubber you would have to go out to the end of the bowsprit, lay down and cut the snubber. With a snubber that is brought inboard to a cleat via the anchor roller, you can simply case it off and pay out your chain motor/sail away.
I have not had to break away from my rode before, but I have chosen to lengthen the snubber/rode on many occasions due to changing winds. This is reason enough to have a variable snubber lenghth, IMO. But you don't need a SNATCH block for this, just a decent single block. Like I said, we used a Schaffer, something we retired from active duty on our running rigging.
But we all get along via our own wakes.
~A