For the past 5 years I have been using a 7' long piece of Ripstop as my groundcloth for my tent. It's relativly lightweight, packs easily, and cost me like $7. It is not waterproof and offers minor protection, but I like it. I still want a footprint for my tent, but until then I will continue to use my groundcloth.
Hope someone finds this as helpful.
Let me know if you like this or have a better idea.