Might need Chief to weigh in here if I get it wrong, as he and I have gone back and forth a few times about routing.
I believe the final decisions were that all participants had to get though CP1 and into Core Sound. Heading up Core Sound you can take a cut over to the Neuse (rather than going back around Cedar Island), there is more than one. After crossing the Neuse you are free to naviate via the ICW or Pamlico Sound but need to get to CP2 - Hobucken, then CP3-Alligator River Marina) in that order, returning to Cedar Island again either down Alligator River on ICW or out to the Albmarle Sound and around back and down the Pamlico Sound.
You cannot get to CP1 and turn around (west) and take the ICW (paralleling the Harlowe) to the Neuse (which I think is what you are asking). You must go up Core Sound.
You are also not required to get to CP3 using one route and then have to return using another, if you choose to stay ICW to CP3 you can do this both ways.
I believe if you even wanted to take Core Sound all the way past the start/finish and then up the Pamlico (no cuts to the Neuse) that should be ok as well (but maybe not the best route).
Dawn