My friend a machinist type just made me one of those. Maybe it would be ok for the smaller singles like a 7 or 8hp... I always thought head bolts were the way to go too. I'm always the over cautious type when it comes to such things. I would probably use a 6k rated chain and my 1 ton floor jack to lift it out then slowly lower it to my work surface. 
I've always done my best to avoid accidents instead of recovering from them.
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Randy
Cubs: 71, 72, 127, 149, 1440, 2186 and 1864
John Deere 110 round fender
John Deere 140 H3
Sears: GTV16
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