The video seems to be a variation which has a single gin pole hinged at the mast step in lieu of the double A frame shown in the photo.
A lot of hardware if you trailer every time, but does look pretty safe. The only "OSHA" issue I noticed is the mast is raised by an individual in the cockpit, which is where everything falls if there is a problem. I prefer to do my mast raising from the foredeck, but that's just my personal preference.
As stated above by
@CrispyCringle, the robust sliding track at the mast is the trick to making rigid stays work in this system. The video goes into the problem of getting correct geometry for constant length lifting stays. Macgregor tried to solve it by welding eyes to the stanchions. It's ok, but the geometry is still off a bit, and as a result, it's not as rigid as the poles in a sliding track. Of course, there is the additional challenge of a rotating mast to deal with on my boat. Improving my lifting stays is coming up on my list of projects, so enjoying your post and everyone's replies.
Agree that flattening the tubes, bending and drilling/bolting is probably the cheapest way to join the system together. Just takes a bit more time to set up and tear down than the snap fittings in the video. You could use bolted gusset plates at the joints as an alternative.
Self locking gin pole winch, or self tailing winch on boat should be strongly considered. I often raise by myself and have to occasionally stop and check for tangles/kinks on the way up. My raising rig has the self locking winch on it. I can let go at any time and nothing will move (other than slight side to side due to stay geometry).
Please post pics when you build it.