i vote for loops, but i'm not so in adamant about riding loops that i'd never do an out & back. i've done that too. my first trek this year will be an out & back probably. then hopefully a 5 day one way.
one trip i'd like to do in a couple of years is bike to the train - train to Chicago - bike to a ferry in Wis., then bring the ferry back to Mich, then ride back home a couple 100 miles.
i think that'd be a really cool loop.
do what you can get done and enjoy at the same time.