When I first purchased my (very used) boat, the lifting point for the gin pole was way up on the mast like yours. I moved it down to about 6' above the deck using a stainless bale bolted through the mast like the newer boats and made a shorter cable that attaches from the pole to that point on the mast. It made a big difference. The angle of pull (more upward and less compression force) is way more favorable now and it makes the then entire raising and lowering process feel much more controlled.
