A dedicated focal length lens like the one in question is going to be both more compact and optically superior to any true telephoto design.
It will have a significantly larger image circle, so also be usable on 8x10 if that interests you. You can acquire superb optical performance more economically by using a process lens like an Apo Nikkor, but by the time you add a shutter it won't save you that much money. And more important, once you are forced into a big no. 3 shutter you not only lose your weight advantage, but potentially risk more vibration on the front standard of a lightwt field camera. The Schneider 350/f11 is the first thing of this focal length to come along in a small shutter since the Fuji 360A, which will be equally expensive if you can even find one. In terms of real-world usage and high-quality enlargements, the choice of a smaller shutter can make a huge difference. Both these lenses are in an utterly different quality league than the old Tele-Arton.
Agreed, I use mine for portraits sometimes and that's it.