MountainSmith Mountain Shelter 2
We were able to spend 6 nights in the Sierra Nevada with the MountainSmith Mountain Shelter 2.
It was summer, windy at night, temps in the low 30s, and some cloudiness. The elevation of our trip was 8000-11,000'. This shelter is a tarp held up by two hiking poles and 13 stakes. I set it up 5 times, and it became easier each time. It weighs 1 lb 15 oz and costs around $130. It packs up very compactly, and sleeps 2 comfortably. Its a really good option for a light and cheap shelter, and I'd recommend it. It doesn't have a floor, and you would need to get a ground cloth, which might add 6 oz to the total weight.
It is definitely worth the price. A drawback is that there is no mosquito netting, so in bad bug conditions you might have to sleep with a bug net on. You could also throw a bug net over the whole tent and it would not add a lot of weight to the kit. With all the tie outs it's very stable in the wind, and tall enough that you can sit up and get dressed. There is plenty of room in the tent to cook in the vestibule. In cloudy weather I had no trouble with condensation.
It would be better than most tents to pitch in the rain, because you could toss your gear under the tent, pitch the tent over the gear, then get in the tent to put down the footprint and get the sleeping bag and pad out. Taking it down in the rain would also be better than most, because you could pack up all your stuff inside the tent, and lastly pack up the tent. With no poles to mess with, it would be quick to take down.