goin4length, there are nervebundles all over the top of your shaft but because the BIB doesn’t put pressure ontop of your shaft it’s not an issue here.
Attaching the hanger 1+” behind your glans will make it easier to form a good stopper from the end of the CC’s (which I think BIB refers to as shoulders). Once you’ve got a good stopper you can pull the hanger closer to your glans or even have them touch solong the tension is on the stopper and not on your glans.
If you attach the hanger close to your glans the stopper won’t be as big and there may be tension on your glans during hanging as well as a bigger chance of the hanger slipping off.