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Hi Vince,
As I said, a large proportion of what I know about the Mexican keel design I learned just now from your excellent pictures. I have no idea what that round tube is there for (keep in mind that it might not be factory original---it would help if another owner of a Mexican 26 would chime in about now).
I also have to confess that I don't know what you mean when you say "...the other side of the metal rod." I might guess that you are refering to the cylindrical feature that is part of the winch and runs parallel to the drum, but it's not clear to me what you're talking about, so I'll pass on answering that one.
I do have some insight to how wire rope (otherwise known as steel cable) is supposed to work. The basic rule is that the bigger the diameter of the wire rope, the bigger the radius of things it has to bend around needs to be. Your photo of your winch drum is a perfect example: that wire rope is wrapped around a tube (the drum) that is far, far too small (which is another way of saying that your cable is way too big for that drum), and that's the main reason why it is crushed and frayed and failing. When I rebuilt my winch, I more or less doubled the diameter of the drum (that's not so much an option for most owners).
I reserve the right to change my mind in the future, but I'm not a fan of using line instead of wire rope. It is my impression that Spectra and similar products are working OK for people who choose to go that route, but I believe that a properly done wire rope installation will last longer than the boat will.
Best regards,
Greg
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