I'll start a new thread on my hack, but here's a quick preview of how I solved the problem. I added a wire to each side and used them directly with the rope ratchet. I placed the pivot right above the center of gravity so I could tilt the light. Hanger wire is a bit thin, so I secured them with ties to avoid a dropped light.
Here's the difference between the stock mount and my hacked one.
In my first attempt I moved and reused the brass mount points and heavy wire, but then realized a simple bent hanger wire through holes in the sides would do the job. No changes to the light are needed.
I wish MH would supply simple bent wire mounts. They could hook on all sides. It's much more flexible and preserves the vertical headroom. In most pics I've seen, people seems to be changing the stock mounting anyway.