But because there is now more hashrate outside of cloudhashing, cloudhashing will find a block less often...
How much cloudhashing finds is irrelevant, they pass the chance on to you by giving you a certain hashrate.
I know, but it's not irrelevant. You can calculate the amount of each block payment that the pool owes you, based on the pool size and your relative hash rate, and see if it matches up to the amount they actually pay you or credit you with. I did that a few weeks ago and found that it was close enough.
Putting 100% of your earnings into rrp is very very dumb because you have no idea when they will add your extra hashrate. By the time they put it online the hashrate might be almost worthless and you wont make any bitcoin.
Best thing is to pay out everything as soon as possible.
I understand the argument, and it is a gamble, but I don't think it'll be worthless.