It's all a compromise- you're going to have to have shackles somewhere, and downsizing the entire riser just to make it fit the bow roller IMHO risks premature wear on underwater components.
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19mm chain is the minimum I would use for a riser chain, 22mm is even better, though you might need a bigger buoy.
How long it lasts depends on tidal conditions and the amount of silt in the water. here in the bay they last between 3 and 6 years - t cvaries a fair bit depending on theposition in the bay, probably due to tidal flow and silt load.
If possible inspect it every year and caliper the worst part of the chain. When it gets down to 10mm it is time to replace the riser. Shackles should automatically be replaced at the same time. The local fishermen cable tie the shackles rather than wiring them,
- W
I don't quite understand what you mean, downsizing the riser?
The average life span of a 12mm riser is only two seasons
I would very happily use a polysteel riser (my strop is polysteel, or possibly seasteel), but I'm surprised you haven't noticed any wear at the cow hitch. I would have used a galvanised thimble and a shackle.