So this will throw a curve at you---. My setup is 1/2 coiled cable (looks like a spring) with vinyl coating and 1/2 chain. I bought the coiled cables that where only about 1/2 the length I needed then added chain so I could adjust the tension on the setup to keep them relatively tight. I use a Protect a Tow and this setup keeps the safety chain up and out of the way. What I don't like is that the cable looks to be rusting inside the vinyl and it's starting to concern me about strength. I may replace them but I'll try and find coiled cable that's not covered with vinyl.
BTW- the Protect a Tow is a useful addition, not only does it keep your toad fairly clean but the way mine is installed, (and I think most) it goes under the hitch, safety chains and electrical connectors and wiring and keeps all the dirt and grit out of that as well.