I think for this nubie the cost of the 8274 is a bit steep, $1900 new, yes it looks like the rig if you're competing or mudding a lot. I have been hard pressed to find many decent used winches and I'd rather know the history so would prefer to go new. Hmmm I sense some deep discussions on Thursday.
I also read that they aren't the greatest for a newb - the fast line speed keeps you on your toes, and if you aren't familiar with safety concepts on where (and where not) to put your hands, it can be a bit dangerous.