It has been working great. There is still some debate about the fact that it might shorten the life of you winch but for the safety and ease of handling I will take the risk.
There was a thread on VOY (that Goth posted I think) about some a jeep guy who had some MasterPull line break. It just dropped to the ground like they said it would.
I think that a guard on the first few feet would be a good idea.
I think that I will be adding some soon.
I will just use some climbing webbing. I have done this with some of my top-rope anchor rope before and it makes sense to protect this area.