Three years ago I installed a Lewmar Pro-Fish 700 Windlass. It works very well. It has free fall as well as controlled.
You will need 1/2 8 plait anchor rode and a min. of 15 ft of 1/4 G4 High Strength chain. BBB chain also works but is more expensive.
I have the 15 with 200 FT rode. If I was doing it again I would go with 30 FT of chain 8 plait.
The 8 plait coils neatly in the locker and does not kink or twist.
I had to move the Mooring bit aft then drill a new hole for the rode to feed into the locker. It worked out slick. You might find you will get a better drop with the vertical windlass and the transition from chain to line is very smooth on the verticals.
safe boating,
dave
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