Gatewood Cape setup fromSMD site

You mention a preference for a multi-purpose poncho/shelter combination. Look at the Six Moon Designs Gatewood Cape. 11oz plus 2oz pole and 6 stakes for shelter use. Total wt. around one pound and 35 sq. ft of room. Alone it makes a floorless shelter or with their Net Tent option you have a complete bug free shelter at 26 oz. Cost: $155 US. I have used one since 2010. I don't ride fast in the rain so can't answer concerns about wind impact at higher speeds. I use elastic cords to control flapping. As a shelter it is surprisingly stable in winds and rain with proper staking.

Poncho use photo from SMD website