It's not all that heavy, with a decent wool blanket and a superfly it's not that much heavier than a hammock/bivvi and bag. Lighter than a tent setup. Plus there's a multitude of ways to use this cot.
In fact, when I start using this proper, I'm hoping to go more along the lines less is better. Using skills that I've been learning and practising from you fine folks. Along the lines of the boone challenge.
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Unless you are using some extremely heavy components, there is no way this set up with a blanket, tarp, and this contraption will be even close to the same, yet alone lighter than a tarp, hammock, and sleeping bag of comparable warmth. Assuming both set ups use the same tarp, just for simplicity, a modern backpacking hammock weighs under 2 lb (models like the TreckLight Single weigh 1 lb). A three season sleeping bag (comparable warmth to a light wool blanket) weighs around 2 lb as well. I guarantee you that this contraption, made of heavy canvas (as per the description, with undisclosed weight) comes in at well over 5 lb alone. Add a 4 lb blanket, and this set up will weight at least twice as much as a hammock and sleeping bag system, not to mention the huge volume. Looking at his Pathfinder log cot and blanket roll in the video, it would take up my whole backpack and then some.
Besides, Kephart never used anything like this when he was actually traveling through the woods. In his book on woodsmanship he is very specific about his gear, and there is nothing resembling this (http://woodtrekker.blogspot.com/2011/04/gear-of-horace-kephart.html). Maybe he spoke about it in his book on camping, which he wrote for non-woodsmen, which I must admit I have not read closely. I guarantee you no woodsman of any time period ever carried any extravagant contraption such as this one. After all, they had to actually get places.