Tony, In the past I have uses hanging stropes and they worked just fine for me. About three years ago I bought a TI paddle strope using one side with there sharpining paste and used the other side for everyday honing. I just used the pasted side a few times. I like to use barber hone. About six or so weeks ago I bought your red latago/horsehide paddle strope size 3 1/4" x 10" --------Love It--. I do three to five passes on the latigo and about fifteen to twenty passes on the horsehide.
I (at times) would like to be a little longer.
You are correct in saying it may be too heavy, but it is made out of oak.
I think one made out of a lighter stable wood would be fine.
:)