I also use the bottom method. I have found that it's the better of the two for hunting. Having the entire sight in my view, I can easily move to the next pin or gap shoot or even judge distance by the spacing between the pins (works pretty good once you have established a"control size" for a given distance) Anyway, the point is I can do all of these things and still have an open and larger view of my intended target.

Also I think you would need a considerably smaller openingin your peep in order to get any consistency out of your shots. With the lower method you can encircle the sight ring with your peep ring and you have yet another way of "checking" your anchor.