Squaring means running same jets in primary and secondary. Squaring up means using all jets matched to the higher secondary (or larger) size. Usually done after blocking off the power valve. The power valve does the equivalent of increasing jets 6-10 sizes depending on vacuum signal.
My guess is blocking the power valve and rejetting may work good for full throttle race applications, but for most lake jet use, may just use more gas and hurt part throttle performance.
jer