Mark,
I was able to upgrade the windlass on my boat. Due to the shape of our chain locker it does not work well.
There just is not enough of a vertical drop for the chain. I tried installing rollers and guides to get the chain to not jump the gypsy when raising the last 50 to 100 feet of chain. Nothing worked until I used a piece of 2x4 between the gypsy and the bulkhead. Not optimum but it does work well. I have 150' of 5/16" chain, usually anchor in 30' of water.
Installation was not that hard, did have to enlarge the opening. It has been a few years since the install, don't remember any issue with the bolts. This is the Maxwell VW1000.
Hope that helps, let us know how your project goes.
Jeff
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