Headstay Rigging

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I'm interested to know whether people are still using the pivot under deck connecting the headstay and jib foot.  It seems that it's effective only for a loose rig.

You are correct. For snug and tight rig, it is pegged to one side. The headstay holds the tension, and the jib halyard adjusts the tension of the jib luff, but not the rig tension.