In reply to Kemics:
Definitely worth bringing up at the next area meeting IMHO. I think a piece of chain will wind some folk up. Wouldn't bother me, but I'm sure someone would get upset.
However personally, I'd just re-climb the route with a suitable piece of tat, cut all the existing crud and put the new tat in. If it's a good/popular route, I'd try and make the effort to climb it every so often, putting a new piece of tat and stripping the crud each time.
I know of a couple of routes near to me which will be getting similar treatment next time I climb them, as I thought at the time 'ohh that tat is awful' and now a year later it'll be even worse.