So the goal was to modify this Steadicam Smoothee for lightweight cameras, but it was surprising to see it fly my Canon 5D Mark II + 50mm F/1.4 Lens. Getting back to the real reason for the mod, I tested out a smaller setup with the GH2 + 20mm Lens (total 1.2lbs). It took about 6.8oz of counterweight, but she balances just fine. In fact, I really think Tiffen should offer something like this for all the new smaller lightweight cameras coming out. If they can keep the price about the same, they'd make quite an impact. There's some additional information in the video about the Quick Release mount and Counterweight attachment.
If you're late to the party, you can find all the build information on modding a Steadicam Smoothee for your small cameras in the previous article (here).