I voted bivy but am not too polarized in my view. I own one though. On a trip last summer a friend and I did have to ride rather long into the night before we could find a secluded spot where he could hang his hammock.
However, I've just bought a North Face Storm 1 one man tent which looks pretty good and am keen to test it out this week on tour. Just over two pounds stripped down and rolls up only a little larger than my Integral Designs gortex bivy which has a hoop for over the head. That's it in the weeds to the left. For dry weather riding it's pretty good though somewhat minimal. Mine is a bit bigger than some and I can put my shoes and a bag inside near the head with me.