We replaced 3/16 galvanized cable for 3/16 Dynema on our hoist. it has a much higher working load, won't rust or work harden. It lays more easily on the drum and eliminates the "jump" you can get when reeling in the steel cable. It pays out much more easily and we were able to eliminate the extra (headache ball) weight on the hoist cable. The weight of the lifting hook is sufficient to lower the unloaded cable.
We have a Wichard 4 point lifting harness. It is 8 years old, and sun and salt is taking its toll. In another year or two, I think I'll make up a replacement harness out of Dyneema. It will coil up and store in a much smaller volume, and will be even more resistant to sun, salt and chafe.
Our dinghy anchor rode is 100 feet of 1/8 Dyneema. It is light weight, does not absorb water and stays light. We cruise in GA and SC frequently. We anchor in deep creeks with strong current. If the outboard quits on the the evening shore patrol with the pup, it is really nice to have the ability to anchor the dinghy and not we swept out the river. Also, at the beach the long rode also makes it easy to anchor the dinghy and pull the dinghy out into deeper water.