I used a bedroll when I first joined the Army. It was smaller and lighter than the issued sleeping bag. It was made by stacking and rolling these things in this order:
Poncho
Space Blanket
wool blanket
poncho liner
It could be carried in different ways as it was flexible. I slept in temperatures below 20 degrees Fahrenheit with it. Not exactly toasty but functional and I could sleep.
I would have preferred slightly larger items to ensure better coverage when I was rolled up in it though.
I decided to be a tough girl on a weekend outing a few years back and used this combination, under a second poncho that I hung as a modified lean-to. It keep me warm and dry, and I slept pretty well - except for the Spring bugs. A head net helped but didn't stop the constant buzzing.