I was working with a guy I met from this site yesterday. He uses a Blake's and was watching me climb on the VT. I had to go up and down this tree a few times in the removal, roping process. He saw how well my setup tended slack and how well it bit when I set back that he said he plans to go to this setup. If you ever get it dialed in you'll never use another friction hitch.
I spent some time up in a big white oak today with the setup again... I'm gonna try the bottom two holes on the HC next time, even with the spliced eye there is still some interference using the top hole. I think this may solve most of the problem I was having.
Yes, the slack tending is awesome. I doubt I will look back either once I finish getting it all dialed in just right. That damn bucket is the reason its been taking me so long to work this out - may leave that thing sitting on its ass back at the shop a bit more this year. Sure feel good to do some real climbing for a change!