I have stripped a hub once from using a cheap lockring. It only engaged 2 1/2 threads out of the 5 on the hub, due to the cog hanging over the remaining threads. Bought the same formula hub new and a surly lockring with its lip to engage all of the threads. Its been working under far more harsh riding conditions then stripped the hub. I'm using the same cog as before, its steel, just not sure who makes it.

I did my first ever hill climb and decent, brakeless, SPD clipless with a helmet. That was fun and scary on the first lap, then I didnt want to stop, its the best ride I have ever been on. Beats the heck out of roller coasters.

The paulcomp ring are expensive, but I could see you might need them if your cog was thinner then the one on my bike.

I don't think $14-$20 is that expensive for a great quality lockring, I paid $17 for it at a LBS.

Yes, the first lock ring I used was installed correctly.