I hoisted my eng/trans in and out using chains on the 3 hoisting rings. If I could do it again, I'd probably try to setup a balancing bar like Volvo recommends for the reasons Rhys lists.

There is one other thing to consider if you're going to simply use chains to hoist the engine/trans like I did: no matter how you set it up, you're going to start bending that rear hoist strap/bracket forward. And in the operation of pulling it all out, you'll notice that the chain will put a lot of pressure on your #4 fuel injector!!! If you don't care about the engine that's coming out, that's fine, perhaps. When I put in my new engine, I removed the injectors and the fuel rail to prevent this from happening (also plugged the holes in the manifold). It was still quite a strain on the rear bracket during installation - but I routed and wrapped the chain in a manner to minimize this.

Also, definitely consider moving that 3rd bracket to the intake side like Rhys suggests. As you can see in the pic, I didn't discover the usefulness of that until the engine was going down into the bay, but that's more of an installation headache than it is a removal one.

Steve