I've always found it important that the arrow shaft be under my dominant eye at full draw. I don't think that would be possible if I drew to my earlobe.
That said, when I read of the Welsh longbowmen of the Middle Ages, it says they drew to their earlobe. Of course, their purpose was different from ours: they wanted to put a flight of arrows from many bowmen into a group of approaching horsemen at ranges from 100 - 200 yards out. It wasn't so important that any one archer hit as it was that all archers were able to hit in the same general area, so some of them would find their mark. They were trained to use 100# plus longbows with a heavy arrow and bodkin point to pierce armor. I'm sure drawing back to their earlobes to gain a little extra momentum was a part of that plan. Individual accuracy was not. In fact, practice at ranges less than 100 yards was forbidden, as the king didn't want individual archers getting too good at poaching his deer.