I would carry a wind-resistant tent and sleep system appropriate to the season. If you own the gear, the only thing stopping you is the weight--- and we have that fixed, DON'T WE :) Freezing to death sucks!
For 3-season day hiking CYA, I carry a poncho and line, space blanket bivy and extra clothing to the season. I always have redundant fire starting methods and a knife.
I see the improvised shelter techniques as being very valuable to know, but having appropriate equipment is much better.
Most survival systems are designed to be light, cheap and compact, as for aircraft or other vehicle use or disaster preparedness. In other words, better than nothing at all. Even a light 3-season sleeping bag and pad in a true shelter will be better than any survival type setup. I would assume that you would have ample clothing to use with the bag. We're talking maybe 4 pounds for just run of the mill UL gear, let alone SUL.
The super shelter really isn't any different than a tube tent. I would rather have a silnylon or Cuben tarp and a pad. The lightest 8x10 blue poly tarp would be better than the video example. What he had rigged in the video wouldn't last in moderate winds, let alone a storm.
Keep in mind that if you are stuck out overnight, it may be due to injury and it takes a lot work to rig an improvised shelter, gather firewood, etc. Last Winter a hiker was stranded on Mt. Hood and was able to start a fire, but couldn't move enough to gather fuel to keep it going. If you are hosed so bad that you can't fully rig your shelter, you can still crawl in your bag and wrap the shelter over you. Not the best night, but you'll be alive to see the dawn :)