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@clubman
You seem to be describing a Sturmey AM - three speed, approx 13% up, 12% down.
Admittedly, the weight is about 1 kilo, so it does just fail there, but I don't think you're likely to find anything significantly lighter.
I've done quite a few miles with an AM and I've found it pretty good, although it's not really suitable for touring with luggage, or anywhere with steep gradients (unless you personally combine strength and lightness!).