Finally broke down and bought a hard top hoist. Saw all the home made ones but really liked the Lange Power unit. Found it on 4 Wheel Drive for $304 with a discount and free shipping so I said "what the hell". The box is 48 lbs and was on back order but only for 4 days. Came UPS on the front door step. You can see from the pictures it's a complete kit and is pretty easy to set up. Had to have a second person when mounting the motor unit. Since I could access my attic over my garage space I used 7" bolts and nuts on the end with large washers. You can see the bracing just in case! Pretty easy for the assembly, had to check the instructions a couple of times. Had the top off so I just sat it on top of some 2x4's for building the T-bar. Didn't have to adjust the center of balance any, instructions had it right on the dot! Excited to use it the first times, flawless lift! Pro's: 1 person job now for the top on or off, keeps floor space available, looks pretty cool in the air! Cons: SOL if something happens to the motor while it's in the air, would probably move it more over the hood if I did it again. Overall, highly recommend! Good Luck!

 

Attach some straps like I did to alleviate your worries about the motor giving out.

 

Good addition, thanks!