There are 4 ounces of Z-spun singles there. I can happily confirm that my nalbinding adds Z twist to yarn, so I was able to nalbind away without fear of my singles drifting apart. I'd note that this really does depend on your technique, so your best bet is to look for long-staple fibers and to sample with some Z and some S twist yarns before spinning for your project.
I got onto nalbinding the hat last year in June, in hopes of having it for my class in July ... you guessed it, not done! It was tucked away with just the top done, pretty much until the Camp Burton spinning retreat this March. I took it to Camp with me, and am pleased to report ... it's done! and gorgeous!!
There are some great new nalbinding resources out there for me to point you to:
A new ravelry group, Nalbinders on Ravelry (you need to be a ravelry member to see the group, my apologies to the non-ravelers out there!)
Flickr has a great group with FO's galore: Nalbinding Nutters
YouTube Nalbinding videos by the fantastic Petra (pittyom)! and VikingGirl has collected all of Petra's videos on one page here.
Lacis Museum's Nalbound shawl
And my next project? I've picked up a thrift-store wool V-neck sweater and plan add a nalbound edge, using Schmidt's Edgings and Embellishments.