I am a clip guy.......... seriously HATE things rolling around in my pockets. HDS is not ideal for clips. I have all the official "solutions". OP, your instincts about the universal clip are correct. It stands proud a bit but not terrible. It dose not interfere with the rotary function at all. It is an "ok" solution if you want the rotary. I do highly recommend the rotary as that is what sets HDS apart.
Hopefully this might be some useful information... sorry no pictures. So, I have clicky's and rotary's with clips. I agree that the under the tail clip on the clickily is near prefect. However, I have several of my rotary's set up with a factory HDS clicky clip under the bezel mod. LOVE it! It has proven strong and water proof with the correct o-rings swap. Great thread here on how to do that.
Differences:
Clickily is bezel down carry.
rotary is bezel up carry.
It really will not matter with either the factory hds clickily clip on both the tail or the bezel of the light, they both stick up out of the packet almost exactly the same. The clickily is about 1mm or less shorter, I am willing to bet you would never notice a real difference about that 1mm or less extra poking out.
I would not let the clip situation hold you back for a great light.... try rotary first the user interface is awesome. Putting a universal clip or my strongly preferred old style clicky clip mod and you will have the best of both worlds.
Let us know what you decided. Be warned..... you will not stop with just one HDS.... they procreate like rabbits.