Cheers for the replies. I know I'm not going to gain an awful lot of extra grip by extending it, but the exposed ferrule is exactly where I feel most comfortable gripping the rod whilst fighting fish. So by extending it that small amount I'm going to gain a lot in terms of comfort and grip on the rod.
As for the downlocking seat, I can see Jon's point about any loosening being more noticable by the angler in this configuration. As I said, I haven't experienced any issues with the downlocking seat as of yet. A second locking nut is a great idea and if I do end up flipping the seat over I will add one. However at this point I don't think I will, I just don't like the idea of my CV getting messed with too much, especially if i'm not really going to gain anything by doing so.
Thanks again