I'm a huge fan of tungsten and it's really all I use now for weights. The smaller size and increased feel from them is unmatched. I was just checking out a new product by Davis Bait Co. called the Super Punch Weight which promises to have "the same characteristics as Tungsten but it is half the price." Interesting concept and got my attention when they mentioned half the cost. I did a little reasearch and saw Bassmaster.com just featured it in their Product Showcase section. Here's what they have to say:
"Davis Bait Co. has developed a proprietary compound that is nearly as hard as tungsten and offers the same feel for half the cost. Three styles are available: a cylindrical Carolina rig weight, a standard worm weight and a punch-style flipping weight. Sizes range from 1/2 to 1 1/2 ounces."