I am gearing up for a feature-length, and am planning on purchasing a crane (cobra, camcrane, dvjib etc). With a low-cost crane like this, will I be able to use it as a normal-height stabilizer?

I'd like to be able to set up the balance from the back, while operating the camera from the head, with full pan ability etc. I already have a glidecam, but for some slower, shorter-distance shots, it'd be nice to save my arm some stress. It seems like this will work, but until I see one in person, I'm not sure.

Anyone use a crane for this type of control?

Don't use a Cobra crane or any unsupported beam-type crane without testing. They tend to oscillate with the slightest disturbance. For smoothing moves, they can help because of the mass but you don't want any wind or abrupt stops.

The less expensive booms, like the Cobra, also tend to twist although the twist doesn't normally oscillate.

Unfortunately, when you buy the Cobra, you own it. They do not accept returns.