I've been searching through history of tried-and-true self-leveling buoy systems. Our lake varies a lot (~18" throughout the season), and nothing has worked great so far. The systems that seem most common are types of counter-weights inside a piston, sometimes requiring a dry lake to install (not an option for me, at least this year).
So I came up with the following design, which could be installed anytime and seems quite simple. I can't find any problems with it in concept, but since I can't find where someone else has tried it, that usually means there's a fatal flaw...
Self-Leveling buoys using counter buoys and pulley
For a course buoy inflated to 10" in diameter, I calculated that we'd need the equivalent of a ball inflated to 8" diameter to provide the force required to submerge the marker by 50%. We could simply use a less-inflated ball or use a float that would be approximately the same volume, but an oblong foam buoy is preferred so inflation doesn't vary over time. The pulley would need to hold up in water over time, and would need kept clear of weeds so it doesn't bind, although I believe the buoys would self-correct pretty aggressively even without the pulley rotating freely. In general, it seems like a pretty simple and low-maintenance design. Has anybody tried this? Any reasons you can think of that might cause problems?