I used something like that, actually a mix of a Multi-rig, Hinge and a 360 with Gardner Stiff Link.
The boom section was Kryston Snakeskin, but instead of the hinge or multi section being tied to the mini swivel, it went through the ring doubled over with a counterweight held in place under the swivel with the link being knotted and lighter tagged.
It produced a couple of uncaught fish from spots by the edge of the weed with bright pink pop-ups early season.
I'll try to find a pic, but John Claridge was using something similar.