I just did this exact same thing.
I do not recommend making cables out of amsteel. I have considered backing the metal ones up with amsteel though (IMHO, we throw amsteel at everything here and not just when it is the best idea).
I removed my cables, measured them, and ordered new from Lexco Cable (google them, call and talk to a sales rep).
You will have to bend the eyelets to match Loc On. (you'll see they have a curve)
I measured all my bolts and replaced all bolts and nuts with Grade 8 yellow zinc coated hardware that I ordered from Fastenal. I also replaced all washers with yellow zinc coated.
I replaced the cloth seat with a slumper seat (look on amazon). It stretches a lot. I ended up going back to the cloth seat that I think the previous owner had made.
Because this thing is ultralight, I did not want to use my usual US Army Molle straps and waist belt because those are nearly as heavy as the stand.
I made my own shoulder straps with ultralight Allen brand gun slings. I made a sternum strap out of a nite ize gear tie. I got a nylon tool belt belt from Lowe's and made a waist belt by burning holes in the belt and tying it to the stand.
I can send pics.
Whole set up with carry straps is around 8 lbs.
I forgot to add that I converted the tree strap to a Lone Wolf cam buckle strap (I can show method) where the two strap ends are connected with a small steel Petzl screw link.
All and all, the stand is possibly better than factory condition now.