Re Chain Splice:   I love to splice rope but I hate needless work. The rode-chain junction will never pass through the gypsy as its intent is to 1) Mark the end of the chain as it plays out 2) Stop chain from inadvertently going ALL overboard and 3) Allow you to cut it and slip your anchor.    This is a play out the chain NOT retrieve the chain arrangement.   I, at least, drop my anchor and let chain out without the chain going though the gypsy which it must do to flow freely.  That said a Portuguese bowline will do quite nicely. Russ