I've got three ponchos and used them all at various times. I should downsize I suppose. Why do I need three?
My first was a German issue one that I got in the early 80's which was rather heavy but solidly made, the only problem I found was condensation build up on my chest when I had the waist cords tied snugly.
The second one was a olive green US army issue, I think. But that rustled like a pile of dried leaves in autumn, but it's lighter than the German issue one.
Lastly I traded a drawknife with Tengu a couple for years ago for a recent US issue poncho in cammo and that ticked all the boxes for me. Light, durable and not too noisy when walking while wearing it.
Later I bought a poncho liner from a seller here at BCUK and I was amazed at how warm it is when used as a blanket. Over this past winter I would wrap myself up in it in the front room of this sieve of a house I'm currently renting with draughts blowing through from every direction, it reflected my body heat back at me like a silver survival blanket and I was as snug as a proverbial bug. I've since modded the poncho liner with a zip so I can poke my head through it and wear it under the poncho should I choose to, though I haven't done so yet.
I know you've bought the poncho already Robbi, but that liner is a nice investment too and weighs almost nothing. I'm well pleased with mine.