The Heatsheets Bivvy and Blanket look great. These are the ones from Adventure Medical, yes? The price is right. Are they reasonably durable?
Yes to both. Durability is much higher than a thin Mylar "space" blanket but somewhat less than the sportsmans "space" blanket that I use as a small tarp.
I wouldn't care to carry a poncho made of this material -- I'd think the bivvy would be better for resting still, and a poncho would undoubtedly be pretty warm for moving around. You can improvise a poncho from a blanket at need.