As a curmudgeon-in-traing traditionalist sorta fellow, I'm obliged to let forth a few "Bah"'s and "trusty three-strand"'s from time to time.
I'll agree with you that braided line suffers less from chafe, but no line is proof against it. Keeping that in mind, I'd rather go for less expense, dynamic stretch, and yes, ease of splicing with my "trusty three strand". I do not find chafe against a drum/capstan an issue, as I never "anchor by the windlass". I've put in more than a few 3-strand/chain longsplices, for both myself and others, and never had any troubles. The caveat being, of course, that any rope/chain splice, no matter what the material/technique, needs to be inspected frequently. If/when I find chafe, I simply chop off the splice and throw in another; granted, this is harder in used line, but not impossible, and is otherwise an excellent opportunity to capsize the rode and splice on the other end.
Of course, my preference is a reflection of my experience and skillset; while I can splice double-braid to my satisfaction given time and tools, I feel most comfortable and confident with three-strand, bare hands, and the spike on my hip (wax and whipping optional)... I have yet to see anyone splice doublebraid out on the 'sprit or aloft on a yard. Ah, still so much for me to learn...
I find your polyester/nylon/chain combo compelling. Properly applied, it seems to indeed exhibit "the best of both worlds". However, I personally prefer to avoid any extra splices/joins, as it has often been shown that it actually is at such places that line does fail, if it does.
Such discussion and comparison is the fruit of this forum. In the end, I suppose we can each choose amongst all the fine ideas and employ we we each feel most comfortable with. Indeed, sometimes there is no "best" idea, and solutions which appear ideal for one yachtsman may be ridiculous to another... I'm reminded of Bob Griffith, who was a great advocate of polypropylene/chain rodes; he compensated for the weaker line by using larger sizes, snubbed with nylon, and enjoyed using a line that was inclined to float free of bottom obstructions... a polypro rode doesn't appeal to me, but I'd find it hard to find fault with Bob Griffith generally, especially given the grounds he chose to cruise in.
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