Rick it looks like you have created a solution which is the best of both worlds.
The way I have done it was to slide the shrink tubing until the very tip end of the rope was flush with the end of the tubing then using the little disposable butane torch to heat he end fibers of the rope first melting them from center out then heat the tubing.
Shrink tubing also comes in many varying grades and thicknesses I like the thicker grades but not with dielectric grease in it as that just reduces the bond to near nothing good for electrical cables in corrosive environment but not for serving the ends of nylon or fibrous ropes.
I also use the thick tubing for covering the wire ends of small steel cables or when back weaving a loop if for nothing else but to make the end appear more finished and neater looking
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