" The only modification I intend to do is to add a hook loop to the top tube and eliminate the leveler portion since the pick point is centered I don't use the leveler at all and it tends to brush the handlebars anyway."
I'm not a very smart man. So after reading your planned modification and looking at your pics again I think I might have realized that I have been mistaken on how it works. The threaded rod was just to balance the engine and not used to crank it into the frame? It looks like you still have to push the hoist & motor into the frame;correct?
I think you're going to answer yes so I'll ask another question right away. If a guy made another insert for that engine hoist with a piece of bar stock welded on each side,that you could also weld to each side of that collar (eliminating the hook and chain) do you think it would be stable,balanced, enough to use the threaded rod to hand crank the engine into the frame?
P.S. Some day I'll learn how to insert partial quotes on this board. I'll learn how to upload pics and drawings so thoughts aren't left to the imagination of the reader. In the last week I've figured out how to buy something on ebay,set-up a paypal account and online banking so there is hope that some day I'll be able to catch up to the technology available.