I don't like the look of that bit at all...
It is a glorified, in disguise.. gag bit.
Your bit is fixed side and rings...nothing moves independent.
All parts fused together, this is nothing more than something someone hopes to trick a eye to allow a gag bit thinking it a pelham...its not, it is a gag bit.
There is no place for a curb chain to be added nor hang properly to fit the chin groove at the correct angle.
If you were to hang this from a headstall and place reins...pivot this bit on your hand and watch the leverage force applied with how this bit is designed, no thanks.
This bit moves in one long unit of solid, in disguise a gag, a elevator bit is what you pictured.
This is a pelham bit...
The bit I showed has independent rings for snaffle and curb rein, those rings along with a swivel cheek piece is independent one side to the other and has a tiny amount of play to it also.
With ability to utilize a curb chain at varying tightness adjustments, and a lip chain to remove the play some get with a curb chain.
Although each part comes from a common cheek-piece, the fact the headstall, the snaffle ring and curb ring all work independent from each other and then each side has multiple swivel parts...big difference.
Please don't use this bit you showed in place of any pelham...
I'm also not understanding, "However I dislike the weight of the Pelham in a horse's mouth and the jangling of the curb rings when I'm only using the snaffle ring." A true snaffle bit has headstall and reins all utilizing the same ring... If you are only riding with direct reining which is what a snaffle bit is, then why are you using a pelham bit? To be honest, most horses that I've ever ridden were softer and more responsive in a heavier weighted mouthpiece than today's fad of lightweight shiny junk. Find yourself a old bit, not shiny. Metal mouthpiece is some sort of German alloy blend and bet you will have a much happier horse.
It is also stamped "Germany" in/on the mouthpiece.
You thinking that "thing" above you presented is nice and sweet a bit....yea, no! sorry... ...