Well, 7x scope is a bit exaggerated as difficult to do with chain and windlass due lack of space to store 200+ ft of chain and endless time to reel 200+ of chain back in.
I anchored many many times almost daily during my charter time, also many times at 200ft during fishing charter time and i know how much rode should be necessary to keep the boat in position. Some have a have a chain counter like i have others feed the line in the water using arm lengths or counting time using the windlass. Many options available.
I agree that enough chain is more important than anchor weight as the chain keep the first part of the rode flat/a little diagonally on sea bed and thats why all chain is best if feasible. Chain length or better chain weight and anchor rode go together and there are a few basically laws:
1° more current or wind = more rode length
2° more chain weight = less rode necessary
3° some sea beds need one kind of anchor while others another style anchor
4° if boat is left alone then safety margin should be doubled
@Legal Bill
For fishing in high current conditions and soft bottom i suggest the heaviest anchor you can fit and and at least 30ft of thick chain and then plenty of 12mm rope to adjust depending on current situation. For rock/wreck a grappling anchor with bendable tines and same, at least 30 ft of chain. Retrieving 6-900 ft of rope rode using a anchor ball works great! For drifting some use two double cinder blocks with a break-away rope to recover rope but not the cinder blocks who will become a artificial reef over the time.
Also
first you could re galvanize the anchor, but its too small
second, you may add lead weights to the anchor or a sliding weight to keep the line horizontal.
Chris