Jimmy,
The HH can tend slack pretty smoothly. It isn't quite like with a HitchClimber pulley (I don't have or use a Wrench), but is more similar to the Unicender.
Personally I sacrifice a bit of tending smoothness to gain that insta-grab response by tying a very tight hitch.
It meets and exceeds my expectations for ease of tending.
--
Moss, I like your strap a
lot, I used the Maxim 5mm cord as well. I love that stuff, its strong, stiff, durable, and really thin. I used black electrical tape to make mine and as such was able to make the eyes very tight. As a result of the tapes inherent flexibility when you squeeze the biner through the eyes they grab it nice and tight and it never rotates or slips.