Semi OT: Light packable rain shell

[Jaybee]

So what's the current standard for a light packable rain shell that would be used around town, on day hikes, maybe on some MTB rides? Still the Patagonia Houdini? Would like something that lets you survive for a few minutes with a modicum of dryness but also doesn't take all the space in your pack or maybe even fits in a pocket. I've got a nice rain shell already that is both breathable and very waterproof, but it doesn't pack down small at all. On the bike I use a Giro windshell that stays dry for long enough and dries quickly once it wets out. This is for non-bike use primarily, so not really interested in EuroPro fits or exceptionally garish designs/colors.