Great share Charlie, it has been a long time since heard of the chain rusting, but it does happen. Why so important to inspect, EVERYTHING. Many people forget a chain or cable thinking being steel last forever.
About 10 years ago, I was in a parking area, getting ready to head out, trying to decide hunt stand or ground. A truck pulled up and out jumped a few "kids" (20 something). They grabbed there stands and set them side and getting ready. We started making small talk, where you hunting? What you seen? As we talked I was looking at their stands. I noticed something, and asked, "you not going to use this stand are you?" One of the young guys, said "Yes, just borrowed it from his uncle that had it in barn". I bent down, opened the stand, and showed him, where one of the cables that had a coating on it, and you could see a bulge in it, half way up, from stand and frame. "This is broken cable, you do not know when it will break." He did not believe me, so with his permission, I used my knife and exposed the rubber coating, and there was the cable, frayed through. "It will be okay for tonight, right", he said. I took the stand to a close by tree, put it on the base, had him get on it, after a minute as he was going to say "It's fine", it broke. Luckily, the cables from my stand was same length. I took them off and put them on his stand. He wanted to pay me for them, but I said, "Just pass this information down and be safe". That was only his 2nd hunt and now he has been hunting for 12 years, and teaches boy scouts and hunters ed. Money well invested. Have many more like everyone, someday will share my most traumatic accident.