Actually, if you followed BIB's posts as much as I have over the last 5 years you would know that he himself practiced hanging for several hours a day with anywhere from 5lbs up to as high as 40lbs. HE was able to do the "duration vs. load" thing because he worked at home. Permanent elongation will occur with heavy loads in a shorter time period. BIB himself has said in the past that he thought he could probably have had as much or better success using less time than he did.
The amount of weight is not always as important as the duration of the stretch, sure...BUT you better be getting fatigue from the level of weight youre using. Otherwise, no matter how much time, or how many sets you can hang per day, you will not gain. Not much anyway. Fatigue must be had. For myself personally, that means I have to hang with this weight range. That is, if I want to hit fatigue by my first or second set. This is important because most guys who may only be able to reasonably put in 45 minutes to an hour at most a day for hanging, need to make the most of their time. If a guy hangs 3 sets with no fatigue from all that hanging, he might as well have done nothing.
Thanks for chiming in by the way. I enjoy seeing the opinions of others, as valuable or not as they may be.