Thanks Loren. Are you saying I could remove that stanchion and just run the lifeline through an eye lashed to the shroud ? (outer ? inner ? does it matter which one). Sure would save lots of trouble. The stanchion and the shroud are only a few inches apart. The load transmitted to the chround by pulling on the lifeline would seem (without doing the calculation) to be way below what the shroud is designed for.
As noted, I have seen it on lots of stock boats, but I am not an engineer. As for the 'load' on the shroud, this would be minor compared to what the rig puts on it. When you grab a shroud and put your full weight on it to step up from or down to the dock, there is no danger to the wire. Personally I prefer the 80's idea that the lifelines should be a separate 'system' from the standing rig. It looks better, if nothing else.
It's worth recalling that lifelines transitioned from being an option in the 60's/70's (not sure of date) when racing rules began to require a continuous wire XX inches above the deck, and a stanchion/support every XX inches. Then customers started demanding/expecting them on new boats.
Racing rules and regs led to a number of safety features that younger sailors take for granted.
Apropos of whatever, I used to attend the annual PIYA meetings in Bellingham, carpooling with a local yacht designer who was on their safety committee. We had some great discussions, riding for 5 hours up the I-5.