Interesting. Like the concept.
Don't care for the rod sticking out like that though. Crowded in our shop and sometimes challenging to get the hoist where you need it already, but I could imagine relocating the handle a bit and/or shortening it.
The younger smaller guys climb right in the engine bay with the engine still on the hoist so they would probably really like the release up higher like that.
How is the control? We do a lot of engine swaps and that's important.
The only modification I've done to mine is to upgrade the hook to an old swivel one I had from a previous lift. That makes life a lot easier.