Update. I was messing around trying to come up with a way to winch backwards and the spliced loop came open.
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It stayed secure through a couple years of normal use. If it slipped at it it wasn't much as the loop would get bigger and at some point noticeably so against the chafe sleave. As I was feeding it to the back of the jeep it must've pulled just right to loosen with no noticeable resistance as I just pulled it clear and found myself with the tapered end completely free.
I inspected the rope and it looked great. Not brand new but no noticeable wear.
It's worth it to do a locked brummel splice to prevent it from accidently coming apart. It's been a while since I did one but a quick search on my PHONE showed me how.
https://www.animatedknots.com/brummel-eye-splice-knot
I moved and couldn't find my fid so I found a piece of wire and used that. Just fold and pinch it tight with pliers and you're good to go. Wire is probably better anyways if you have an already-tapered end.
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Took a minute to feed the wire through. Did a longer bury than needed (forgot it was 3/8 and not 1/2). Better than too short.
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Fed the tail back through just fine with a little massaging.
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Good to go now.
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Left the chafe sleave off as it was in the way of this method of making the locked brummel, and it was showing some wear. I'll probably wrap the loop with tape for easily-replaceable chafe protection.
So far I've been very happy with using the soft loop and see no need to change. For storing I secure the end either on a tow hook or soft shackle to the stinger long before it gets tight so there's no worry about it getting sucked into the winch.