Well, I took it out to practice some songs with the ska band last night, and it did fairly well. It was far more comfortable than using a regular stand, for me.
The clamp, itself, was very sturdy, and there wasn't much bounce. Though there was a noticeable amount, it wasn't enough to affect playability.
The problem I ran into was the weight. About an hour in, the legs of my hat stand shifted. Nothing fell or took any sort of damage. It just got a little wobbly. I just had to re-set the legs, and it held up through the rest of the practice.
If I continue to play with this band, I plan to mount a small timbale off of my hat stand, so the snare idea will have to go on the back burner, at least until I get a more robust stand.
All in all, it was great for comfortability and saved setup time, but I wouldn't trust gigging with it, at the moment. Nothing worse than two of the three most important parts of a kit failing in the middle of a song.