Nothing stopping you from doing it. If you've used your winch in the past, you'll want to change out your fairlead. As far as it being worth it goes, I suppose it depends on how much you use your winch and under what conditions. Synth will be lighter, won't rust, won't splinter/fray and stab your hand, it'll float and it won't seriously injure or kill someone if the line breaks. It is pricey to do, some brands can be effected by the sun and the heat of the drum and if you don't protect it from rocks, it can cut.