I have the exact stand from the settlement, and LOVE it! API Grand Slam Shootin' Star. Extremely comfortable and the thing grips trees like crazy. I replaced the shrink wrap with clear, thin-walled vinyl tubing. You have to pull out the plastic plugs in order for the chain/tubing to fit back in the channels. I don't think this stuff will ever wear out and now it is quieter to climb with because there is no loose or tattered shrink wrap to grab the bark. Been using this stand for ~15yrs. Not a single problem with it.
I would not hesitate to own another API.