Photo gear is NOT ultralight, but a lot of landscape photographers strive to be. Going ultralight with 5-10lbs of camera gear is arguably MORE important because traditional backpacking stuff quickly clocks you up to "Too Heavy to Hike."
So, I thought I'd share this. In the (infamous?) hunt for perfect stuff sacks, I realized the Thermarest stuff-sacks by Cascade Designs come in lots of different measurements, and are ideal for keeping an expensive tripod relatively dry and dust-free when you're out on the trail. For pack-rafters, they also have drybags.
Here's my tripod, the Oben AC-1410 4-Section Aluminum Tripod with BA-0 Ball Head (3.2lbs):
At 21", it fits perfectly in the Thermarest 11.5L stuff sack. I also wrapped it in about 2 feet of Gossamer gear's Thinlite pad, which adds a bit of protection for a couple ounces that doubles as insulation in camp.