I use paddle 'biner on mine, as it gives me an additional place to stash a swimmer's paddle during a rescue. I stitched across the end of the original loop to make a tight fitting loop for the 'biner. Mark makes a good point about it getting hung up on the deck rigging and I'm careful to avoid that.
FWIW, I origially had a float on the loop. One day in a pool session, I tried a re-enter and roll and found that the float did a great job of pulling the strap into the cockpit as I was attaching the skirt. 
