I'm speaking from my experience here, so FWIW...
When I ran a similar setup (2 drains, 1 full siphon, 1 open), I had a REALLY REALLY hard time getting the siphon line dialed in so it exactly matched the return pumps output - i.e. the siphon drained water at the same rate as the return pump supplied water. So for me, what everyone terms the "emergency" drain was actually a really low flow open channel drain that handled the little bit of water not handled by the siphon. Does that make any sense?
I definitely struggled at first. I attribute it to a few things:
1) I used a ball valve. It's hard to make fine adjustments with a ball valve. A gate valve would make this MUCH easier.
2) I had a LOT of other stuff going on with the return line - it was T'd for two turf scrubbers and a media reactor. Any adjustments on any of those meant the balance would be thrown off a bit, requiring adjustment of the siphon valve.
3) For a few days my ATO was not operational, which meant head pressure on the return pump was varying by an inch or two over the course of an average day, which meant the adjustment would be off by a tiny bit.
That said, I still feel this is an optimal drain design. If you use a gate valve and an ATO and you're not constantly screwing with the flow rate for the return pump, it should only take a few minutes of adjustment and then you can forget about it. If you close the valve a bit too much and there's a little tiny bit of water running down the emergency line, it's not a big deal. If you don't close it enough the siphon will burp air every half an hour or so - again, not a big deal. And if you end up in either of those situations, you just give the valve a nudge. Recursively, after a few nudges, I've always gotten it to balance out.
I think from an ease of use/flexibility standpoint, 3 drains is a far better option (see Bean's design). One drain would be full siphon, dialed in so it drained 95% of the water supplied by the return pump. The second drain would be an open channel, very low volume so air and water don't mix, thus no gurgling, thus very quiet. The third drain would end up being the emergency drain.
Not trying to be argumentative here, just stating my point of view. I see the three-drain system as overly redundant and space-consuming. With the standard herbie style (one full siphon, one "emergency" line) you still have <100% backup capacity via the emergency line. And, the three-standpipe system isn't any easier to adjust - you're still going to be fiddling with the valve to get the flow set at the "best" rate - it just might be a different endpoint than with a herbie, but it still takes as much finesse to arrive there. The only real advantage I can see to the three-channel system is that it's extra extra EXTRA redundant. And, although I'm the most paranoid person I know in this hobby, it's TOO redundant as far as I'm concerned. I can't ever imagine a case where I'd need THAT level of redundancy. It also takes up 50% more space! But, to each his own. Cully, hope you don't mind us taking this thread on a tangent!