I've gone late-engagment recently too, after years of setting up my brakes to engage within 1-2 mm of lever travel. I tried it when I read an argument that your hands are stronger partially contracted than fully extended. Not sure how much that matters, given that modern brakes can slow a bike down plenty w/o reefing on the levers. What I like about it is that nowadays I more often find myself going 35+ mph downhill, in the drops, and having my hands wrapped around the bars with levers gripped feels more controlled to me than with my fingers splayed out.

Good thread here, it's nide to read aobut other's experiences with discs, which are still kind of new to me.