The issue with a simple block and tackle in my mind is that that you're depending upon the maststep fitting/hinge to keep the mast in alignment as it swings down. If it's meaty enough, then no problem but otherwise, don't you need shrouds located transversely in the plane of the mast to keep the mast on center as it swings?
Second question is, where does that mast go when folded down? In jleonards', does it fold past horizontal aft? If so, it must be a bear to get it up so that a tackle would have a decent angle.
Third question is, does anybody find it necessary to fold their FB bimini flat for headroom? Pretty sure ours folds but it ain't obvious; I've got the cover for the wad of folded cloth. I've also got a second cover that appears to enclose the seats and upper helm.
My new mast will readily fold down and rest on the FB's aft railing, but would have to be unhinged/unpinned to fold flatter/lower.