Wood beam

"Problem is the garage door mounting hardware is in the way"

Is this the garage door header? If yes I wouldn't use it for anything other than its intended purpose which is to hold up the Roof/Gable End and provide lateral support for the garage door. Less you want to pull the roof and wall dow
As far as the hole is concerned; when the lumber is graded at the mill the diameter and proximity of the knots determines the usable grade ie.. 2KD 1KD 2DKD ect.. The board or beam as you indicate is only as strong as the largest knot hole allows. If you see same size knots(3/4") check the distance between them and proximity to the edge, use that info as you guide in determining weather the hole is detrimental to the effectiveness of the beam.
Its the header above the garage door that would be supporting roof, the door itself has a separate header
This header is held up by the same dimension wood in each conner of the garage. In addition there is studs and double studs were the garage door sits but as I said the actual span is eight foot
I pulled my small welding machine out of the back of my truck many times but that machine is 500/600 pounds, what I was thinking of lifting is double that and thinking about it, no good
I looked at the gantry crane in HF today, members price is $650
I dont care for the pipe supports it has, they are bolted on and look useless. The uprights welded to the base, the weld looks like its a 1/8 bead. The I beam is light and its supposedly rated for a ton
The steel and casters will cost me but what I make will be way stronger than that and I can custom make it for my garage.....So im going to price the materials and make one
Thanks for advise, always appreciated