Here's how I see it.
Both systems have pros and cons.
Craigs system works well, and is silent. One thing I'll agree with Layton there is no need for a standpipe at all if there is enough redundancy in the sump. Correct me if I'm wrong Craig, but as I see it, if you had no standpipe, but instead just the tap at the bottom, that would help eliminate the issue of water rising quite high in the overflow to build up pressure, after you re-start the sump return pump.
Personally I would not run this system without a secondary pipe, as Craig has, incase of blockage. May never happen, but the tap scares me. Talking about tap position, one advantage not having it outside the tank, is it keeps it away from childrens fingers. I know having such a tap outside the tank when my kids were younger, would have been a recipe for certain disaster. Not if, when. . Craig has largely eliminated the risk of blockage by placing a filter at the top, he tested it while I watched and he could block at least 3/4 of it with virtually no effect.
The Cracker Pipe will be the name for this system, you are now famous, Craig.
To Dursos, Reefs one is completely silent. I questioned him about this & he explained how he achieved it, all very well thought out and logical, it can be done. I won't steal Reefs thunder, he can explain if he wishes when he comes back.
Dursos have a restriction also, which is why I don't use a Durso, although the restriction is much less than the Cracker Pipe, but it's still there. I've never heard of a durso failing though, has anyone?
To me, if I had to have one of these systems, it would be either or, they both work, but I'd have a secondary pipe as an emergency blockage water overflow, with both of the systems, but especially the Cracker Pipe. Probably not needed, but I'd feel better with it.