Golite sells an ultrasil poncho that doubles as a tarp shelter. Has strategically placed loops. Using their recommended setup, I got it set up pretty easily with hiking poles & a few tent pegs.
I'm sticking with my Big Agnes tent for multiday trips for now, but this does intrigue me. For weight, bug comfort, and rain/storm protection, IMHO it is hard to beat the BA Fly Creek ... if you fit it.