Once I bought into the UL ethos of multi-use, I started playing with different shelters that used trekking poles for support and haven't really looked back. For small weekend trips where the forecast looks OK, I'll use my poncho (Equinox) as a tarp supplemented by an Equinox bivy for some extra splash protection. For longer trips or where serious rain may be an issue I have a TT Contrail that I've enjoyed immensely so far.

Now, my technique for pitching said shelters is definitely not perfected yet, but I do feel that there's a difference in visceral "bombproofness" when comparing the 2p 3-pole, 4 pound double-wall tent with my tarp/bivy setup or even the Contrail. But I've also discovered that bombproofness isn't always what you think it needs to be, and the satisfaction I get from getting as much use out of everything I'm carrying makes up for any cerebral fears of flimsiness. I have been considering the SMD Gatewood Cape to replace my Equinox poncho and leaving the bivy sack at home. Brian, could you elaborate on the limitations you spoke of earlier with this shelter?