Bigreddog - I am 100% with jzmtl on this one. I use my rucksack, daypack or waist pack as an extended outdoors / wilderness PSK because the pocket size kit I've been able to make will improve the odds but are severely lacking in terms of shelter and water procurement. I can cram my bivy bag, water bottle and a pouch that holds the rest (which would be the classical "PSK") into the pockets of my anorak, but the are bulging to the point of discomfort - and where do I then put my gloves / mittens? (Standard procedure: Gloves off => into anorak pockets).
Whenever I'm into the woods or mountains I carry some small pack of a kind. The typical day hike it will hold comfort items, food, snack, whatever... and my "extended PSK" items. A quick jog or skiing trip means a small pack that will contain just those PSK items (this routine is something I started with after being a member here). A camping trip means a bigger pack, with some means to carry the PSK items if I venture out to explore.
If I replace that big heavy bivy bag with an AMK bivy bag (1/3 the weight, probably a similar reduction of volume) I just might come down to a size small enough for pocket wear. Some day I'll probably test that out. In the mean time I make the decision that the risk of me being stuck without my pack is small enough for me to live with.
Quite frankly, I am somewhat allergic to the classical "survival-in-a-tin" kind of PSKs. Some fishing hooks and moisture damaged matches doesn't exactly cover my bases in the shelter department. Don't get me wrong, altoid tins or Doug Ritters PSK pouch is a great way to carry some highly practical multipurpose items. But the bulk within an altoid tin is too small that I can live with that size restriction and call it a PSK.