I tried the cut off the splice and re-splice but either you have to plan on an extra long halyards or end up with one too short. Now, I tie the shackles on the halyards; no splice - now wear. So far no wear on the knots either.
Haven't noticed wear at the clutch but if that's a problem you could tie the shackle on and reverse the line end for end every year or so. though after one year, I doubt I could untie the knots on the shackles.
