I would say it is a severe bit although the severity of a bit tends to depend more on the person using it. I definitely wouldn't consider putting a beginner rider on a horse with one. I tend to prefer snaffles and more time spent on training myself.
Waterford Loose Ring Snaffle – Multi jointed bit, extremely successful with cross country and forward going horses where and extra degree of control is required. The construction of the mouth plus loose rings encourages mouthing. - Sizes: 4 ½", 5", 5 ½", 6" Item # B-K6225– Price $75.00
Hmmm.....not sure. I've never heard of them but I geuss they could be harsh in the wrong hands