I use the trol-a-matic, it is available just about anywhere for $50-75. It has heavy springs that hold it down for trolling but let it flip up for high speed travel, no cables or nothing to mess with.
How much top speed did you loose with that plate? I want to get one too! I found one on ebay that is all aluminum and all automatic, and has a hole in the center for better reverse operation. About $120.