"Lifesaver" bit?

I'm curious as to your opinions about this bit.

The first thing I notice is that this is definitely a western style bit, I don't think this bit would do well with the constant contact you could get with a snaffle while riding English. It definitely isn't the most horrific bit I have seen but it isn't the lightest thing I have seen either. I would assume that the ring makes it gentler on the horse than a cracker snaffle and could discourage them from leaning on the bit. One small detail I cannot accurately judge from the picture is the screwing marks on the bit, if the bit is sharp then I would not use it. All in all, certainly nothing I would choose for my own horse but I wouldn't mind using it on a horse that is already used to this kind of bit and enjoys it.