Not sure if I agree with the 5.4 rating people give the first pitch. It stars with a lay back dihedral that isn't 5.4 but it is just the first 10 feet. The crux is the diagonal hand crack at the last 10 feet of the climb.
You can rap all the way down from the top anchors with a 60 meter rope but good luck pulling the rope with all the drag. I recommend rapping down to the ledge where you did the first belay and then pulling the rope and rapping a second time.