Have you tried the Gatewood Cape?
Innernet 8oz $120
Tent/Cape 11oz $135
So at 19oz and 255, it's $40 less and you get a Poncho. Looks like a pretty similar setup except you don't get the porch, still, I like the poncho option. Now I have a new tent to add to my list of maybes.
BTW I just got the tarptent contrail.. it's OK, but not as versatile as I'd like.