I have an 8K on my toyota trail rig. Don't think its overkill and I am rather impressed with it. Mine is a Warn VR8000 which I think is their cheapest level. I'd prefer a higher end winch, but I have been happy with this thing for as much as I use it. I wired a switch into the cab this year and broke a solenoid stud in the process, but that's all that has ever gone wrong with the winch and was sort of my fault. Highly recommend that upgrade though.
Steel cable for me, but depends on your use. If it were something I was driving on the road and only using off-road occasionally, I'd go synthetic for the weight savings. If it weren't bolted to the truck, I'd tend to leave it behind, so receiver mount doesn't do much for me either. I get the theory though.
