I don't think that single braid would have a big problem with chafe. The only thing I remember that was bad about it was that a strand would sometimes catch on something and have to be worked back into place.
I don't see why a cam cleat would be a problem for it.
Reading the NER stuff on Regatta Braid, it says it's applications are for main sheets and furling lines. Oddly enough, jib sheets aren't mentioned. Don't know why.
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