It is early.....early in the morning.......and I'm... waking up.....but wanted to mention a few things.
One of my prerequisites in a backpacking camera is that it uses AA batts. Lithium, Re-chargeables, or Alkaline double A's, the choice is yours, they're easy to find, offer great performance and economical (rechargeables actually improved a small but significant part of my increasingly unexciting life: www.all-battery.com) . The thought of being on a long trail hoping to find a place that will let me charge any battery for a couple of hours, all the while CARRYING xtra batts and charger is very unappealling to me and seems somewhat anti-BackpackingLight.
A number of points mentioned in this article bring questions to my mind: Can't use Ultrapod because metal camera mount is in "wrong" position? Isn't an LCD monitor a viewfinder? Over 8 oz. + accessories?
3 years ago I acquired a Nikon Coolpix L5. It weighs 5oz, uses AA's, 5X opt. zoom, etc. It's not that I am specifically recommending the L5 (even though I LOVE it), but that in the world of much compromise that is UltraLite or even BackpackingLight there are - and I believe this to be true for the majority (ie: average Joe's with a camera)- at least a few, perhaps many other practical and beneficial possibilities.
Now it is later and I've still not woken'd up.
"Somewhere Between Thought And Action Is Talk Which Often Stands In For Both"