I set it up last night on my tablecloth diy and love it! It's so freakin' elegant. It's also much easier to make this than fabricating a whoopie. I made two ends in about 10 minutes. Adjustment is very easy, and the cinching seems secure. It will definitely take a couple of longer test hangs to see if it will work long term. I did notice some compression of the amsteel where the line went through the coils, but after milking the line, it looked normal again.
I set mine up sort of like the OP with a dutch hook (the large one?) on one end of the rope (locked brummel) and pulled in the other end on itself. Both lenghts of amsteel are about 15 feet, but I think I'm going to cut them down a bit after some practice hangs. I'll get some pics up soon for critique and instruction.
Thanks to the OP for this...