Well, didn't actually get to test out the winchs "underwater durability" but I did discover something, that cable gets really cold when in water below freezing! Now your all wondering the story, so here goes. We (me in my explorer, my buddy in his lifted Blazer and his buddy in his Jeep), and we come to the water crossing. One route is water til about halfway through then ice, the other route is solid ice across. Blazer goes first through the water route, planning on breaking apart the ice as hes driving through, well he doesn't. he gets his front bumper up on the ice and digs himself a niec little hole in the sand underneath (keep in mind he is about 3 feet deep in 31-33 degree water that is filling the inside), I drive across the ice with my winch to winch him through on the other side. No luck, he just pulls me towards him. So I drive across AGAIN and someone (the blazers brother) jumps into the water and hooks up my winch to his rear bumper (not the safest but he had to dig through about 6 inches of sand in below freezing water just to get that!). The winch cable was only underwater for a few seconds, but I winched him out (very slowly mind you, and I was hiding behind my door - just in case!), finally got him out and after an attempt to get all the water out (its still wet today!) while respooling I discovered that cable gets very cold. Hope you enjoyed the story of a Ford rescuing a Chevy Dead Link Removed.
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Matt Adams
94 Explorer 4-door nick-named "Tippy"
http://bart.is-s.com/~explorers/explorer/explorer.html