Helimech,
Rhino lining goes on pretty thick (approx. 1/4"), so it would probably add quite a bit of weight, but there is another company called Line-X that puts on spay-in liners that is a lot thinner and works great. I had them put a liner in my pickup the first week I owned it, and now 5 years later it's still in perfect shape.
A buddy had Line-X spray the inside of his old Grumman riveted canoe a couple of years ago and that also worked out good ...... didn't add much weight, the boat is a lot quieter, and no more leaks.
BF