Anybody use a HitchGrip?

Seems like a neat concept, but I store my hitch in the front, street side storage compartment (along with all of my other "parts / accessories") and it doesn't have the height required to fit in with the handle. I just keep a pair of leather work gloves in there. I'm in pretty good shape so the weight / ergonomics aren't a problem (yet).

One question I had for those of you that have this - is there a cradle or magnet that stops the hitch ball from sliding out the "side"?