I looked at doing something similar to this on Koesh, but found that the pattern got so spread out by the time I cleared the collar for the mast boot that it presented a major trip hazard and took up WAAAY too much deck space. A friend had a similar setup on his Kalik 40 with a matching ring inside that tied back into the mast, but his was an old early IOR configuration with a massive telephone pole, not a bending spar. If this were duly tied back into the mast to keep the deck from lifting I'd worry about pointloads on the mast and the possibility of losing the flex we need to maintain rig tune.
