David:
I would replace this with an on deck, horizontal Lofrans Tigress. I too had the SL1000 and when it died I added the Tigress. It is hands down the best windlass, and many owners seem to agree. First off, it is easy to install because you just bolt it down. Then the wiring connections are all done topside on deck. I was able to keep my old SL foot switches and I replaced the solenoid and the wiring up to the deck from there. It covered the hole of the SL 1000. Maybe a plate would make it a little bit better, but I found this a great windlass to have. I have now replaced the brushes in this unit as well and that was not too difficult either. The main reason these break down is the carbon brushes go. Every motor like these will have a way to replace the brushes. With the unit up on the deck it was easy to simply pull the cover and then pull the motor, AFTER you PUMP out the oil!.
If I were doing this all again, I would do this same windlass, the Lofrans Tigress in a heart beat. It is simply a great machine.
Here is the photo essay of when we installed ours on IP35-165
www.ipyoa.com/photos?view=album&aid=1446
Hayden