so what have you done that's got it balanced? I'd really like to hear what's working

oooo ... that's a worry. I can get my ND2/60/DS125s in portrait with one hand ... but I really need two hands to get a steady shot either way. And I'm no guy (strong or otherwise)
*phew*
makes me even more keen to hear how you've got it rigged ... have you posted it somewhere else?
I didn't realise the INON were heavy. Compared to my Ike 125s Matts Inon is a featherwieght. Are they deceptively negative?
i'm not sure my decisions getting any clearer 
yeah, that'd equate to my experience with the 70-300. For macro I don't use AF. Not sure if I would use the VR or not
I have no idea how people get the amazing photos the do with AF ... I'm in awe ... I can't make it do my bidding!

Leander
Leander,
Yea, I just say "strong guys" when I note an experience with the d200 u/w cause I don't want people to think I'm just a weakling and that is why I have the negative, in-water weight issues!! 
I actually thought of getting a D2X and the ND2 right after purchasing the ND20 and the d200 - because of the negative in-water weight issues. But even selling it almost new I faced losing so much $$$ and my husband who isn't a photographer or diver was past his "limit" so I just figured out how to make the best of the ND20/d200. As you say it does have a couple of less inches at the bottom for shooting up.
I'm sorry I haven't posted pics of my d200/ND20 macro rig yet. I'm notoriously slow at getting caught up with pics/posts and I haven't even shot a pic of the rig yet. Briefly with the new 105vr port/Kenko 2X TC w 2 ex rings which allowed use of the manual focus knob; to get the rig "neutral" I used 1-Patima BC on each 8" ULCS arm segment (search for those on this forum); 4 pieces of corecell foam on the other two 8" arms (equalled 7oz of additional non-compressible buoyancy); and Ryan Canon cut me a buoyancy ring for the 105vr port (it had to be all attached to the front, in front of the focus knob to keep use of the focus knob - but it worked quite well and the critters actually began to think I was just another piece of "flotsam" on the bottom!!
- that gave me another 8 oz + non-compressible buoyancy to the front of the rig). I liked the combination of compressible and non-compressible buoyancy as I can "dump" some of the buoyancy when photoing critters in four feet of water (you don't want a rig too positive then for sure!) I suppose you could use the new ULCS buoyancy arms also but I'd have to get longer lengths to make more of a difference from what I have and I like the 2X 8" arms - I don't really want to go longer.
I need to do a post/picture of my setup - but not till after I'm done painting in my condo......., it will be another week or so, I can't even get to my housing right now. 
There are specs on the in-water weight of the Inons and the Ike 125s, but as I recall the Inon specs were not "true"....?? They are heavier than stated. But I think they are about the same as the Ike's in-water, not sure though? The Inons are light on land but there are no air spaces to speak of so they are like little bricks on the ends of your strobe arms in the water (I shot many, many frames on over 200+ dives with them on my old Fuji F810 and I know how heavy they really are).
Yes as Loftus says with the wide angle the ND20 isn't too bad, negative weight wise (but for me it is still a problem for wide - not being a "strong guy" and all!!!
) When the ND20 really gets heavy is with the 105vr and super macro accouterments, but even with the 60mm lens the ND20 is way too negative for me without some modifications.
Got to get my house renovations done so I can post pictures again!!!
Still all in all I like the Subal ND20, all the d200 housings are quite negative except maybe Ikelite - best choices are probably the Subal or the Nexus - weight wise, but the Light and Motion might be lighter in water because it has more air spaces - but it is a larger housing. Yes, the choices are not clear. If I were you I'd probably stay with the ND2, it will probably be easier to handle in the long run. Or get a hold of an ND20 and take it down with 105vr and arms, etc and see for yourself???? 
Take Care, Carol