Just weighed it. Its a tad on the heavy side (2.2 oz), although I probably can't say enough good things about PossumDown. I absolutely love how soft/warm it is.
It was a terrible day when I lost/misplaced my original BPL beanie, and although it took me over a year to cave and pay for another one (from ecowool this time), I have not once regretted it.
I bought the plain black beanie (http://www.ecowool.com/possum-fur-products/possum-fur-clothing/possum-merino-plain-beanie.html). If you were looking to save a little weight and still go PossumDown, it looks like the Koru beanie does not double up over the ears, but I can't tell for sure.
edit: Another possibility is to try one of Kat's beanies (http://www.outdoortrailgear.com/cottage-industries/mountaingoatgear/mountain-goat-hats/). I've had my eye on them for awhile but am just not in the position where I should be buying/replacing hats. I have way too many half started MYOG projects piled up…