I ended up buying the Tacord extension and installed it today. It's very high quality, perfect dimensions, easy to install, and the colour matches well. It weighs 146 grams with a built in spring clip. The weight of the crimped tube and the spring clip is 76 grams, hence an extra weight of 70 grams.
Here are my before and after findings.
Out of the box, the crimped mag tube has 11.5" of available room. This allows for exactly 5x 2.75" shells. (I have various 2.75" shells that range in length from 2 1/4" to 2 5/16". I was able to barely fit 5x shells that were 2 5/16". Considering 3" shells are longer (typically 2.5"), the out-of-the-box M4 would not allow 5x 3" shells.
With the Tacord extension, the tube has just under 15" of available room. This is just small enough to prevent 6x 3" shells (assuming 2.5" length). However I easily fit 6x 2.75" shells, with at least another 1" of room which is nice. Considering the extra room, I might add a spacer to the far end of the spring to absolutely ensure no more than 5x 3" shells can be squeezed in.