I bought one from REI in two weeks ago in Size medium for the $30 price tag.
It weighs just under 5 oz's on my kitchen digital scale. The surface seems like non-breathable crap you get on the cheap rain coats, and there is nothing on the tag to indicate that it's a 2007 other than the Marmot model number.
All in all, compared to my Chinook, it's heavier, feels more substantial, and when I wore it briefly in some winds, felt like it was no more wind proof. Even given the great price, I'm leaning toward returning it. Not really into spending money on things that only half work.