I'm cutting down the weight of my location gear so this was a natural choice for that purpose.
Having already owned a 5001B, I've taken a liking to compact and light-weight stands. This improves on the excellent 5001B in many ways, being lighter, and featuring handy twist lock mechanisms.
The ability to remove the centre column for use as a boom pole is a great bonus, and the implementation is extremely elegant.
The extending leg is something I can't see myself using, but it doesn't add significant weight or complexity, so it's not in the way either. Given the choice though, I would probably buy this stand without that feature. It can be removed, but you'll be left without a rubber foot on one leg. It would have been nice if a spare one was included for that purpose, but I am nitpicking at this point.
Most importantly though, these stands perform superbly. I've used them with a Godox AD200 and 60cm softbox, without any issues. They can sway a little in the wind when at maximum heights, so might not be suited to outdoor video lighting work, but overall, for the little you need to compromise you gain a whole lot - these stands are super light and portable!