You know what? I don't cae what release you go to. You should still have to shorten the drawlength of the bow about 1/2" to 1". The reason is that your fingers make the string a nice big arc around them. When you go to a release, whether you hook directly on the string or with a loop, the point of attachment is a sharper angle. To get the bow to full draw you will have to anchor back farther on your face. And if you shoot a loop you'll anchor back even farther, most likely being overstretched and having the upper body pulled out of alignment.

As for which to buy? Buy a good one. The El Cheapo's are just that, along with everything else in life. $50-$100 gives you a whole world of releases to look at. My best advice would be go to a shop where you can try lots of them and see what YOU think. Try different types---wrist/caliper, T handles, etc. to see what feels better to you. There are some that you can hook to a loop or directly on the string. Some are made specifically for loops. Then there are some with a rope that wraps around the string (this is what I shoot).