From my perspective, I'd pick a tied or 'field' traction splint over weights any time. I can control tension a lot more easily with a traction splint (manufactured or improvised) then I can with weights.
Keep it simple. Applies to a lot of stuff.
I like improvised with kling best. (rolled gauze) I appreciate having as few working parts as possible.
I don't like carrying heavy gear that rusts or has only one purpose.