"....however, it doesn't look that stable to me."
For a lightweight camera (and mine is a not-so-light G10), the trekking pole tripod shown above, and one I made, a Zipshot knock-off with carbon fiber tent pole legs, are amazingly stable. The magic is in the flexi-leg tripod shown in Jesse's photo's.
It is metal, stiff, and stout. When well-attached (friction only) to my legs it holds everything in place, allows me to easily adjust the camera for plumb, level, and square, and is tight enough to "carry" the legs along when I pick up and move. My CF legs though a little whimpy, are stable enough for most situations, and I am sure the tripod above is rock solid.
Dondo is to be credited with getting this started, for he built the first SUL mini-tripod almost a year ago. And I encourage you to keep going. But, what has been done to date is light (mine is a little over 4 ounces), strong, And stable.