It weighs about 10 ounces, not super heavy but it is stainless steel. I lowered it down my line using the paracord so it didn't slam into my crank on this occasion it didn't even touch my lure since I actually hooked the limb it was stuck on. The dedicated lure retrievers I have are easier to control but that is just because of how I had it attached to the line. If I would have used a second carabiner so that it would go straight to the lure it would work better.
The biggest advantage I see to it is that I can actually grip the limb and/ or the lure. So it didn't even bend my hook. Also I have had dedicated lure retrievers break my line while trying to bounce them, with the hook that wasn't a problem because only the carabiner was on the line. I think this could be adapted to become a perfect retriever with just a little bit of thought.
It has the added benefit that if you happen to be in clear water and drop something overboard you can retrieve it, that was the main reason I had it with me, was just in case.