The Camera Workshop has a Small Tripod which goes for $75. It weighs less than ANY other tripod in the market which I know of. It is surprisingly strong, and can easily take a GH1 with the 45-200mm lens. This tripod comes with a Ball-head, and attachment is via a quick release plate which is identical to the Manfrotto. It reaches a modest height of 5feet something, and the centre column can be reversed for top-down shot, which is also good as a recopy stand (get a water-level though)...
The feet spread in every imaginable "Karma-Sutra" direction, which is excellent for uneven terrain.
Used with a single leg-extension, it becomes a monopod of sorts as well. Holding on to this one leg, it can provide a decent "over-head cam".There is also a "Hidden Hook" at the bottom of the centre column for you to attach a weight to help stabilize the tripod in case of severe winds.
It folds down to a mere 18inches. And the single-action quick-release (like the Velbon type) for the leg-extension makes this a joy to use.
Cost, weight, size, and functionality, I'd rate this tripod a 10.
It's ONLY downside, is that it will NOT take larger Cameras, such as the 5DMkll nor will it handle large lenses...
It more or less looks like this, except that it is Black in color. Great if you shoot through glass, and don't want reflections..