Hey! Didn't mythbusters bust that myth! 
(cutting a person in 1/2, but doesn't mean I want to get hit with one anyways.)
Why yes they did! Completely busted. But..... As you said, I still would NOT want to be on the tail end of a broken cable
It could still do some serious damage
and I'm personally always worried about losing an eye or both.
I've read quite a bit on winches and although there are tons of horror stories out there about mile marker/harbor freight/Wally World winches, I still wouldn't hesitate to buy one, since many seem to have no problems with theirs.
