Smartphone for me. It's relatively cheap (most people have one anyway), light, and small, but of course you have to baby it a bit and be careful not to run the battery down and the pictures aren't great. It's all a trade-off.

I've tried to get a photographer friend of mine out on the trail for a more photography-centric trip. His equipment would be much better, but so far he hasn't bitten.
The journey is more important than the destination.