I have an HVX, which says in the specs that it is under 5 lbs without a battery, of course it needs a battery, so i'd say it's right on the border of the Merlin, which supports 5 lbs, although when I have enough cash to upgrade with the backpack and support arm, it can go up to 7.
My friend's also mentioned that to rent a steadicam, all you need is the cash for the rental, while if you want to rent a 35mm lens adapter like a Letus, you need to put down a large deposit. i don't know if that's rental house specific or general, but it's certainly a consideration.
I also think that's a good point that one can have the best steadicam rig but if you can't operate it properly it's still going to be a crappy shot. However, considering steadicam oping is a pretty steep learning curve, i want to make sure I'm setting myself up to succeed after i take the time to learn how to use it properly, instead of setting myself up for failure by buying a product that will never get the look or feel I want.
Truth is, speed is less of an issue, I just want to be able to make some smooth camera movements without laying dolly tracks and spending god-knows how much on dolly equipment.