Wow, 20 years ago...you can't be that old. This must have been passed down to you from your Great Grandfather. 😃 It is an ingenious way to keep tension on the wire, did you design that method yourself.
Watching a few more videos I see that some creations will use a small spring soldered to one end of the wire to keep tension on the wire. I may try to add that to mine. There are a ton of iterations of DIY Hot Wire Foam cutters on YouTube, I had no idea.
The wire I ordered touts itself as Foam Cutter replacement wire and is 30ga. "nichrome 80 wire for foam cutters etc 30ga 10 ft sealing etc replacement wire"