Ursack this year has come out with their Ursack S29 AllWhite, which is an 8 oz bag. Combined with the 11 oz aluminum liner, you get a 650 cu inch, 1 lb 3 oz bear proof container for $85. (catalog)

At this point, it is not approved in Yosemite N.P. or in some locations in SEKI, but it offers a good light weight option.

Here's Ursack's update:
Quote:
January 13, 2010

It appears that Ursack will be allowed almost everywhere in the Sierra this year except Yosemite National Park and three areas (Rae Lakes, Dusy Basin, Rock Creek) of SEKI. We calculate that Ursack may be used on more than 98% of the Pacific Crest Trail. SIBBG, the Sierra Agency Black Bear Group, no longer exists. There are no standardized bear canister tests--each Superintendent of Forest Service Manager makes the decision for his or her own area. While Ursack will likely submit the S29 AllWhite Hybrid for consideration by Yosemite and SEKI, there can be no assurance of approval given those parks lack of testing criteria and/or their historical antipathy toward Ursack.


Compare it to:

BearVault Model BV500, 2 lbs. 9 oz., 700 cubic inches, $80 at REI.

WildIdeas Bearikade Weekender MKII, 1 lb 15 oz, 650 cubic inches, $225.