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One other word of caution. My canoe weighs only 60 lbs. At that weight it's not overly difficult to hoist. I suspect an 80 pounder may be more of a challenge. Also, be forewarned not to let go of one of the ropes while pulling on the other. Doing so will completely release the end attached to the loose rope and your boat will come crashing down! Good thing my Morningstar is Royalex!!
All-in-all I think this was a pretty cost-effective solution for storing our boat. But it does pay to be handy and have the right tools for those inevitable mods that might be needed.