Do you understand the theory behind the weight's design?
There is a fixed weight, just like any other, and this one set into a rubber isolator. It is for arm resonances and obvious counterweight duty.
Then there is the bouncing weight. It is supposed to vibrate 180 degrees opposite from whatever chassis vibrations make their way to the arm, thereby cancelling them out.. See if you can replicate the entire broken spring by using a piece of the return spring from a tape measure. The curve in the factory spring must be duplicated, as one of the two screws that can be gotten to from the back of the weight is to adjust the height/levelness of the bouncing weight. The screw uses the curve for the adjustment. Or just find a better weight assembly. Remember that the 701 weight may look less cool, but has the same innards. This is what I have on my 1229Q, only because I saw that it looks better on it than your 704/721 weight does. BTW, the 704 and 721 weights seem to have different-length shafts. The longer of the two may cut the arm wires. I hack-saw the longer shaft to prevent this. Having fun? Are we there yet?