I haven't, but I have some thoughts about it. I'm not one of those who thinks "You have to have a UIAA-approved ice axe or you'll be committing suicide!" because I'd bring a lighter weight version on many more trips than the standard type. Therefore, I'd more often have a self-arrest option on high-angle snow. (caveat: if I were primarily doing snow travel, if there were crevasses, or any vertical work, I'd get the new, official modern version from REI or use one of the many around the house from the 1980's.
I like my ice axe to double as a walking stick (I don't do vertical ice except to get somewhere, not as an end in itself) so at my 6-foot height, I like a 85-cm to 90-cm total length.
I was taught and have always practiced with the head/handle junction in my strong hand with my hand wrapped around the head. i.e. I'm not relying on the head-shaft connection strength.
REI sells no end of tradational, rather short ice axes around 400-450 grams (one pound) in the 55 to 70-cm length range. Extrapolating, that would be about 500 gm at a 85- or 90-cm length. The basic commercial offerings are about $100.
My local trash transfer station has a place for people to set aside stuff too good to throw away. Other people pick it up for free. I've considered snagging the next aluminum frame bike I see primarily for the T junction between two tubes. Nicely socketed and help-arc welded, I'd cut and grind away everything that isn't the pick and adze for the head and leave enough of a tube to transition to an aluminum or carbon fiber ski pole or hiking stick. The flick-lock hiking sticks would be especially compact when retracted. And then you're potentially multi purposing your self-arrest device, trekking pole and tarp pole.
There was of course the infamous "Helix Potty Trowel" reviewed by Roger here:
http://www.backpackinglight.com/cgi-bin/backpackinglight/helix_potty_trowel_review.html#.U0G2Ahar1z8 for $150 at 74 cm and 5.4 ounces.