One argument that I really don't understand is why would there be less chance of breaking the tow line when ALL of the force is applied to the tow line, which is the case when pointing the nose at the tow plane's tail, than when the blow is cushioned by the air when the nose is pulled through it?

I don't think that that is a valid argument at all... If properly executed, pointing at the tow plane will be a cleaner, smoother recovery.

I would put it akin to British automobiles (my first car was a '78 spitfire). When everything is going correctly, it is smooth and elegant. When something in the process breaks, the whole thing can get wonky in a hurry.

Chris