Suffolk, I believe the Prusic knot can be used with any type of rope, the issue of course being that the strength of the rope is sufficient to withstand the strain of a fall.

Chazspot, that's a good question. I recommend inspecting the stand each year. I have a Summit stand; if I were you I would be inspecting the cable for rust/corrosion. I don't know if it's carbon or stainless steel. Mine is a loaner that I keep around for the kids. From a 'that thing is really locked onto the tree' standpoint, I prefer the API system, but they all need to be inspected periodically.