I would look at the Stowaway Rods. I have a 3 wt. and a 5 wt. and they're unbelievably good for the price. If you want to go ultralight, a Tenkara Iwana is what I carry on 99% of my backpacking trips. Tenkara is absolutely NOT cane pole fishing or dapping. It is real fly fishing and in many ways much better for fly fishing on backpacking trips than convention Western Fly rods.
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Gear Talk There's no such thing as having too many sporks!

Backpack Flyfishing Tight lines,light packs