Latex tubes are about 80g. They have much lower hysteresis – i.e., they do not absorb energy and hence they roll better. A nice test is to just stretch one and compare with a cheap butyl inner tube. There is anecdotal evidence that the increased deformation means they are more resistant to punctures – but I’ve not noticed this.
Now the downsides: they are much harder to fit because they deform so easily they are prone to being trapped between the bead and the rim if mounted incorrectly. Then they explode with a huge bang! You will do this at least once and marvel at the 20 cm split in the tube and the £8 you’ve just wasted, whilst enduring temporary deafness.
And of course, latex is permeable to air so your tyres will lose about 8-10 PSI per night.
That said, I believe that 80% of the riding characteristics of tubulars (which tend to use latex tubes) can be had with michelin latex inner tubes and good quality clincher tyres. I slightly over-inflate my commuting bike on a Monday and it lasts until Wednesday. I love them.
Oh and they will make a little more noise with Ultremos.