The LM could be used for hanging no doubt, I prefer to just use it to do a bunch if intense manual stretches, bundled and with fulcrum. I couldn't get the malehanger 2.0 to actually grab, it would always slip, though I never reached out to SWM. For hanging, hanging I'd recommend the Bib Hardcore. If your wanting longer sets then go for vacuum based like silistretcher or the LG.
I'm not a newbie but my current routine involves a lot of rest 1 day on 1 to 3 days off for one month, then 1 month off. I fulcrum hang with bib, use LM to do an assortment of stretches, piss pulls and ADS with silistretcher. I've used allot of equipment over the years. Find something you can make work and do it. Track your progress to see what works for you