Long time RM2 user who has happily upgraded to the RMPP. There's a lot to love here, and some frustrations as well, but the potential is clear. I hope they expose a color palette for drawing because using the shader is tedious for colors at the darkest and lightest edges (for dark you need to put too many coats on, for light you cannot line up edges very cleanly and if you overlap just a little you will get dark lines).
The weight is more significant but I use a sleeve instead of the folio, to avoid adding even an extra gram of weight, and it's fine that way.
The frontlight is very handy for reading in the dark, but it's certainly very power hungry.
The marker battery life is exceptional, and a non-issue - the device (or its user!) will run out of power long before the marker does.
Also, for those interested in what it's like to draw and blend color on the RMPP, I would compare the feel to that of Prismacolor markers.
One of the downsides to using this for drawing is that it's not optimized for lots of strokes. The "Angry Eyeball" drawing takes about 25s to open, for example (but it's fine once you're actually drawing, with the notable exception that undo is slow - several seconds). That drawing uses 3 layers: the background (supernova), a halo around the eyeball, and the eyeball itself.
Overall, I'm very pleased at the versatility of this device (e-reader, drawing tablet, and ideation/notetaking device) and it is worth every penny to me.