I prefer stainless Herreshoff style cleats of known good quality. Many builders, including Pearson (see cleat below) used crappy hollow aluminum cleats. A solid aluminum four bolt cleat should be plenty strong but I still prefer stainless. The aluminum cleats on our CS are quite beefy, have not seen many aluminum cleats that heavily built, but they will still be deep sixed when I re-do the decks in favor of Herreshoff style stainless.
Photo courtesy Kismet:
Has anyone ever seen strength ratings on cleats? I have not.
The above picture of a failed cast part with no related deck damage or bent blots does not give much confidence, does it? I have always found myself wondering about 4-bolt cleats in the past, not knowing the strength of the metal surounding the bolts (typically 4 x 1/4" on an 8" cleat). 2-bolt cleats (my boat, any way) have 2 x 3/8" bolts, and I can calculate failure modes based upon known bolts strengths. Certainly we are talking about a failure load of over 5,000 pounds and probably closer to 8,000 pounds in a good deck.
Of course reality, as Maine Sail hinted, is that a line will chafe through first, and even some pretty poor installations hold up pretty well. Surprisingly well... but not dependably.
I had a winch installed by a PO with no backling plate, no fender washers, and not even small washer (just the nuts) on a cored deck, and they sailed it for that way for many years... and then I bought her and pulled the nuts into the deck. I can only guess they never pressed the boat too hard.