According to the Smittybuilt web page the only thing that is waterproof on them is the solenoids.
"It has an oversized, completely waterproof, state of the art 500-AMP solenoid that has the versatility to be mounted over the winch motor"
I installed one on a friends rig when they first came out and it worked great.
Also most all winches are built in the same two factories in China, except for Warn which is made in the USA.