Re: dangers of a steel cable in hand winch....unfounded?
I've over stressed and broken all kinds of cables, straps, chains, and ropes. Always seemed to need to pull a little harder than the equipment I had on the wrecker. I have a length of chain you can hold out like a stick.
That said to establish my credentials. What's dangerous about a cable or strap is it's ability to store energy and deliver it to a victim, be it equipment or flesh. A chain stores the least, and usually just drops if broken. A steel cable is next, though it can store much energy and it weighs a lot so it delivers quite a blow. Nylon straps and ropes are another deal. In small diameters they are safe as long as they are directly tied to something that won't break off. They store a lot of energy, but are relatively soft at impact. I've seen a nylon strap break off a 2" trailer ball, and put it right through a bus driver's head. Not a pretty sight, but a good demonstration of what can happen. The strap itself was relatively harmless, but it delivered the energy to a very hard projectile. That's why you never mix up nylon and steel (chain, etc)
The biggest downer of wire rope in your application would be end of life strand breaking (fish hooks we call them) in the steel cable, raising heck with whatever flesh slides over it. I'd use rope or strap, and make it plenty heavy for the load so you are never over about 20% of breaking point and you'll be fine.