Right now all the parts weight 1.5 lbs, that doesn't include a chute, one harness or the motor; so it will probably be close to 2 lbs on the pad. I think the point about it being too long (it's 43") is a good point.
The main reason I was asking is because I think two rail lugs just looks too big and kind of ugly on a rocket of this size.
On my MDRM I cut the PML rail lug in half and glued each half to the rocket spaced about a foot apart. I may do the same thing with this rocket.
Try mini rail buttons from rail buttons.com I use them on my Mini Tomach and Aerotech Arreaux. They work great and look proportioned to smaller airframes. You will need a 20 mm rail, so check with your club... or BYO...