I wish I had a pic, I should take some when I have the deck off and it is easier, but yes it sounds that you have the idea. I use a cleat instead of a bowser since it is more rigid, then the only question mark is stretch in the line. It doesn't take a heavy line so to speak since it carries no more load than the loop driven by the winch. If you want to be more careful you can make something that turns the line easier than a screw eye and your line will last longer. How much longer I can't say because I have some dacron line from Reynolds that is 25 years old and still holding... so it's not as if it fails very often.
The nice part for me, and the reason that I went to it was because of setting the tension on the loop which for my way of thinking makes adjusting the load on the winch (prolongs the life of the winch and the loop line) manageable and precise and <i>FAST</i>
I anchor the line on the side of the radio board near the hull where it doubles as leak detector. If the line is wet, I know the boat leaked.[:D]
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