The timing hasn't been right on the couple I've seen but Joe has a good answer to the featherweight. It's a Belair Bantam, a Japanese made aluminum bodied Singer 99 clone. There are other lesser known machines out there that would meet the weight and functionality issues too.
Rodney

I have a cute little Domestic - weighs about 11 lbs.

FW demand high prices because quilters demand them and they will pay the high prices. They not only want one they want two or three of them. I think it is nothing more than a fad and they are cute. I have one and don't like it is like sewing with a toy. I will stay with the 99 and the big honking treadles and my German HC. I am quilter and prefer a machine that is able to handle anything I bring to it. If I said this on the quilters side of the board I would thrashed. LOL I am sure they are good machines but they are not for me.

Again I have to say, I feel fortunate that I was able to get my 401 Slantomatic for $150.00 with a desk cabinet, attachments that look like they are all there. I was going over the list of feet and cams that came with my deal and inventory list says everything is there. DH is looking on line to see what pattern he can transform denim and corduroy into. Fine with me. He took it apart to clean and it was not bad. Luckily, when he takes things apart he photos and puts back together. Got the vacuum out and I really think he just wanted to play with it. I got a great deal of a machine and hubby.

Well, I like to piece on the FW, because she has a wonderful straight stitch. My son bought mine for me a couple of years ago for $50 and she's in pristine condition, and though I've used it quite a bit, it's still in great shape. I would never have paid $350+ for a small machine. I've looked for one for my cousin (as a gift) in Oklahoma, but I cannot afford to pay that kind of $$$$$, so unless and until I find one, my cousin is out of luck (she doesn't know it). She needs something durable that is very light weight. My favorite machine is a Singer 403A! and, of course, I still like the 328K I've had for 50+ years! All I can say is to each his/her own! LOL!

Jeanette

The old adage of supply and demand. The demand is high for the cute, little, lightweight machines and since they are no longer made the supply is somewhat limited. I've never entertained paying so much for a vintage machine and around here they go for $500 and up. If I found one in the $25-$30 range I MIGHT consider it.

I would flip it though... :D

I'm just thankful it's only the FW that is high priced, or no way would I have been able to afford all the machines I have.

The price is high because they are so darn cute.

I was fortunate enough to get mine for $40 from a friend I had keeping an eye out for one. He actually wanted less, but I was so grateful that it wasn't the outrageous prices I had seen online, I was happy to give him a couple of extra bucks. I like being able to take it to classes easily. I think it sews beautifully. I also have a 66 redeye (that still needs to be rehabbed) and a 99 in a cabinet. Did not pay over $50 for either. Don't know why the older machines go for so much $$. Would love to find a 301 but not willing to go over my $50 limit so I guess that's not going to happen for a long time unless I find one that someone hasn't figured out they can get more for.