Benefits of a record ring

I'm using the TT Weights ring and like it alot. My only concern is by using both the clamp and ring could impact negatively on the motor assembly not to mention belts, idler wheels etc. Does anyone have any comments on my caution?

It depends on the motor, belt, idler wheels, etc. If the table's design allows, helping the platter get going with a manual push removes most of the additional stress from those components. Once the platter's at speed a ring won't hurt them. If anything, the greater inertia will actually reduce demands on the drive train.

Another possible area of concern is whether your TT bearing can support the additional weight without wearing prematurely. Again, it depends on the table.

When I used a ring the most important benefit for me was the improved sinking of resonances out of the vinyl and into the platter, as others described. Flattening of warps was nice but most of my LP's aren't that warped. But they all benefit from a lower sound floor.

Can't use it any longer due to my tonearm, but I'd buy another if I could find one that fit.

I think an outer ring pressing down the record more firmly with a larger portion of its surface to the platter has a lot of benefit.
The possible drawback of too much additional load on the bearing - well, if a TT's bearing can't take the additional 2-5 lbs, it is hardly of any quality.
Furthermore the inertia of the platter is increased and the platter is kind of dampened. All these side-effects should and will - in a carefully set-up thread or belt driven TT - increase the overall performance. It is however important to add a good record clamp to the periphery ring.
On DD or idler drive TT's the increased inertia is counter-productive and it certainly needs some careful tests before going for this option.
Same is true for some 9" tonearms with conical armwands (SME V) - it often interferes with the increased diameter of the platter surface.
If your table and arm allows , I would always go for a periphery ring w/clamp.

Another tonearm that doesn't work with most rings is the TriPlanar, for similar reasons to an SME IV or V. The TP's sub-arm hits the ring. I had to sell my ring when I got the arm. :-(

After the stated concern/issue with conical armwands, I borrowed the 600g ring from a friend to see if it will be a problem. I have a Michell Orbe SE + SME V. The armwand was set up at the height stated in the instruction manual (I believe something like 10mm from the platter to the parallel lines on the side.) I tried it with a 200g and a regular LP, and there is enough clearance underneath the armwand. The only thing was that I had to move the armrest further away from the platter. But otherwise it looks like it will work.

FrankC