Nick, I think you have seen my boat. The set up worked great until I bought a new dinghy. I moved up to a hard bottom Quicksilver 310 and when the boat heels the dinghy drags in the water. My old smaller dink was fine up to 20 degrees with no problem. I have some stainless blanks that I plan to try and make extensions to raise the attachment up to allow more heel. My dink weights 110lbs and I attach a line to the far side, stand in the cockpit and pull it up.
The biggest draw back is access to the water. I had a crew member fall overboard and he could not get back on board until I moved the dinghy off of the boat so he could get to the ladder. In an emergency it could make a difference but I need to weigh that against the everyday convenience. I have enough weight on the stern without the leverage of dinghy davits hanging off the back.