You should draw back to a solid consistant anchor point. THEN you should put your peep at the proper height to allow you to see through your string.
The peep is WHERE it is, because your eye is a certain height above your anchor poin
I don't disagree with anything you're saying. But these statements beg the question....
If you got drawn back and settled into your anchors.....and found that your peep and sight housing didn't align.....you'd know one of two things:
1. Your peep has moved.
or
2. You're not anchored in the proper position.
So....knowing that....HOW is the peep not an anchor reference?