I use a knot that looks just like that as my mainline knot. I make a loop at the end of my mainline, pass the loop through the eye of the swivel and then make a standard cinch knot. I've always called it the "Rivers Inlet" knot from Herzog's book.

I fished with a guide this fall who used this same knot to tie braided line to a spinner. It didn't seem to slip at all and we caught several silvers and hooked a nice king with this setup. I always thought that a knot like this would slip when tied with braid and a palomar knot would work with braid better. Personally, I think the palomar knot is a pain in the a** and would rather use the "Rivers Inlet" knot.