I've got an old mil-spec rain poncho that's rubberized cloth, OD green, kinda' bulky, and weighs a ton so I hate to pack it. It does have one nice feature in that it has grommets in the corners so it can be used as a tarp.

I'm looking to replace it with something lighter and brighter (more visible) and easier to pack, maybe something in a ripstop nylon, but I'd really like to have the grommets.

Any ideas? I see that Sierra Designs makes one they call the Hurricane poncho . Anyone have any good experiences with these things to relate?