Rating: 5 / 5
I've been using this for a year or so now, in the Midwest forests, and have really come to like it. It's lightweight silnylon, ventilates well, and provides plenty of rain protection. Best of all, it doesn't flap around or get caught on every passing branch or rock. Why? Because of it's belt.
The only design difference between this poncho and any other poncho is that this one has a drawcord that goes around the bottom of the back, and can be tied off in front. This prevents the flapping and, depending on how tightly you secure it, can do a pretty good job holding in some heat on a chilly fall day (though I usually prefer a silnylon windbreaker for this.) This feature also gives you the functionality of a "backpacker extension poncho" without the weight of that extension panel in back. It lets you secure the poncho around your pack just like a packcover. You'd think that this would expose the back of your shorts and legs to rain, but somehow it doesn't.
Lightweight, protective, versatile, takes about 10 seconds to deploy - if it just made you invisible, ID would have re-invented J.R.R. Tolien's elven cloak!