I was looking at mine with my older son who was visiting at Thanksgiving. We were discussing it, how it isn't very useful and how collectors like it, and I showed him the 1960 Sears Craftsman catalog when it was introduced, then the 1964 where it wasn't offered anymore.
I thought then that it would have made a nice stubby ratchet.
I would like to see a picture of your modified rat, Bunger. Do you have plans for your 1/2 ratchet?
Chilly