the weight is the same, yep it would balance, but god the volume would be so different
like . <iron and O < feathers, more than that probably who knows
less dense means nothing in a vacuum however, a bowling ball and 1 feather would fall at the same speed (whatever the specific gravity is, like 90 something kmph here on earth)
and yep, the air is pressing in from all sides this is the reason a sphere is the strongest object when dealing with outside force, if the force at the bottom of the ocean was only down a cone would work D with the flat side down. deep sea divers though have this sphere idea going on though because the water below is pushing up as well.
(a scale large enough to hold the feathers would have air pressing upwards as well as down)
the first part if what you said is slightly wrong though, but a common misnomer.
a ton is a ton