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I use the 7500 for night jigging at the Canal and yes it works great without the bail. I removed the bail because I had trouble with bail not wanting to close (even manually) every once in a while. I have 2 of these Nautils and only had trouble with 1 of them so that is the one I operated on.
There is a small lock washer behind the counter weight to keep it from loosening up. The roller side needed no modification other than drilling out the wire. To make the handle I took the banana handle and cut it apart with my bandsaw to remove the brass nut. I then took a cabinet knob and drilled it out 1/16" over the size of the nut. Put a small piece of tape over the end of the brass knob being careful not to cover the sides. Brush epoxy inside the knob rather heavily and insert the nut. ( mounting the nut on the handle first makes the task easier) After the epoxy is dry I coated the outside of the knob with epoxy.
The knob is very comfortable and works perfectly.
As suggested by JPowers and Slipknot and easier way is to just cut the post off of the handle and manually close the bail.
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Threaded Mode