Used to use Schallers, never had them fail. However, I do have a problem with the screws they were using, which are uniformly smaller (in both diameter and length) than most strap pin screws. Toothpicks and glue abound. I had more issues with the screw than the locking nut. Ultimately, it was the screw issue that led me to my alternative. Well, that and the $15.
That $15 is for sissies (yes, I
did just call all of you sissies).
Try 15 cents.
A washer, and a screw, and I don't even have to change out the original pin. I just take the pin out to the garage, find a screw longer than the old one, that fits through the pin, and then a washer with a hole smaller than the head of the screw. Stack, and boom. Just like in the picture. I'd do it to a $3000 bass.
And, unlike, say, Schallers, Dunlops, or any other straplock out there, only strap failure itself will make your bass take a dive, and frankly, strap failure beats straplock every time. I can't remove the strap without a screwdriver, but I always put the strap on to play the bass, why bother taking it off at all? I'm not swapping out straps all willy nilly, so it's never an issue. Always have a strap (physically cannot forget it if I bring the bass). And, if I broke a strap during a set, I'd spend just as much time getting a new strap into the Schaller or Dunlop strap assembly as I would unscrewing the pin and putting the new strap on.
Indestructibility, people. It's the future; and the future is cheap.