You are correct in observing that there isn't that big of a weight difference between the two. Ounces equal pounds and pounds equal pain, and all that, but it's really not that big of a deal here.
Now, there is a notable size difference of 12.8" vs 15.25". That, combined with the bigger objective lens of the 527 makes it seem like a much larger optic when compared with the 420.
A noticeable FOV difference between the two can also be observed. 28' @ 100yds vs 21' @ 100yds at their lowest powers respectively. If you were to get behind both optics side by side, it would be easy to observe the notable disparities in FOV between the two.
Last, and this may be a subjective thing, but it feels to me like the eyebox is much more finicky in the max ranges of the 527 vs the 420. The 420 just feels more forgiving. That's no excuse for poor eye position while shooting, however it certainly seems to make the 420 more inviting to nestle behind.
Hope this helps you form a conclusion.