Stainless steel has a tendency to fail just when you need it most without giving any warning signs and I think Hiko knows what he is talking about.
If you go up a size or two, galvanised wire is another very viable alternative.
If of course you had a "Windrush Wildfire" 23 ft trailer sailer, you would probably have a much faster yacht (they do get up on the plane) with out the dramas attached to swing keels.
The "Wildfire" has an externally attached lead ballast keel through which a parallel profile dagger board with 10kg bouyancy is slid from the front area of the cockpit.
The 8 ft long cockpit is the envy of many 40 ft yachts. The dagger board slot also serves as a cockpit drain.
Admittedly below deck the "Wildfire" is divided into two cuddy cabins by a water tight bulkhead so therefore below decks accomodation is really only for sleeping when the air is less than balmy, but if you are sailing above the 20th parallel south you will be living in the cockpit anyway no matter how big or small the yacht is.

The prick I sold my "Wildfire" to for $10,500 onsold it 6 months later for a $6,000 profit.[}:)]
I have tried to find an online link to them but the first result of the google search is my previous comment on them on this forum.