That's essentially the way I built mine; a long eyebolt with a large washer and a locknut. Fortunately I was able to find a couple of sets of old tire chains for virtually nothing and then added a broken truck tire chain picked up along the road after a snowstorm.
For my Don Hill mini-drifter, I wrapped a bunch of old chain I had lyin' around the garage thru the hole (and knotted all around) an old steel adz head I scrounged from another corner of the garage, and ended up with a nice 15# glob of steel that holds this light craft in most places I want to anchor. SAK you crack me up with that 8 HP Merc on the driftboat. Is that a 4-stroke?
Rather than spending the $30 or whatever Hyde is charging for their EZ pull system, go to REI and get a Caribeener and a climbing pulley. There the only two components of the system and will cost you a fraction of the price. I had the system on my boat, lost a piece and found this a much easier and cost effective way to replace it.
