Ok so here are the changes that will be done on 1.5:
1. Bigger chains (going to use
http://www.homedepot.com/h_d1/N-5yc1vZ1xg8/R-202079544/h_d2/ProductDisplay?langId=-1&storeId=10051&catalogId=10053 does that look good?
Meh. They'll certainly be better than the chains you have now. If you can stretch your budget a little bit, I recommend going with the coated version of these chains that bhuff used.
2. Use a wire at the base to hold the chains together (I really want to find one of those janitor key rings since that would be perfect
Janitor key rings are exactly what I used on mine. They work perfectly, look great and are very inexpensive. I bought mine at True Value Hardware. I want to say they were about $1.25 each.
3. Acorn Nuts on the bolts (although I think using cable ties will do the trick of holding the chains in place and keep cost down per basket
Cable ties will work just fine but your basket won't be winning any beauty contests. The acorn nuts will add a nice touch but there is still the possibility of minor damage to base plastics. If you do use cable ties, cinch them up nice and tight so they're flat on the top of the entrapment. This will give it a much cleaner look but it shouldn't affect it the function of the chains.
4. Blue steel paint (since apparently using neon pink makes this look like a toy...we used pink so it can be easily spotted)
If I were you, I would worry less about color. Smart move on your part though to consider visibility.
We did a few impact test and it can take a punch I agree with the chain placement concern we need to figure that out....good thing is that with these changes we still have a good target at cost lower then 50 bucks a target...