That's a better mousetrap. I like the locking pin part, as well... keeps (or at least should help) the pin from wandering out by itself like the standard pin may do.I put a T handle one in my last boat; ordered from McMaster. I had to pull the OEM pin one time because the lift failed and it was a serious pain.
Take a look at these -
https://www.mcmaster.com/products/pip-pins/material~stainless-steel/